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Eurozone Property Recovery Continues

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Eurozone Property Sees Recovery from buyers

Demand for all the main European destinations increased during May 2013 according to new data from internet property portal

Spain, France, Italy, Portugal, Germany and Greece all saw a month on month increase in interest for sales, with Italy making a significant recovery from new record lows in March.

The investigation revealed that Spain, France, Italy and Portugal were all in the top five destinations for enquiries for the first time since August 2012. The new data is also significant in that it shows Brazil falling outside of the top five for the first time since January.

The ongoing crisis in the Eurozone continues to paint a confusing picture but the positive news from property markets in various member states is a sign that the worst affected countries might be finally turning the corner into recovery.

If this is the case, it is likely to be the result of continued historically low prices proving too good a temptation to resist, rather than any real return of confidence amongst buyers and investors.

In fact, the positive figures revolve around month by month increases, whilst year on year figures generally stack up worse than 2012.

Germany has seen demand rise, particularly in the rental sector, as it continues to buck the general trends in employment rates and other economic markers.

More surprisingly, Greece has also seen demand rise or at least stay stable, and this is in light of the recent scares over a run on the banks from savers worried about their investments in the wake of the bailout.

The popularity of European property markets meant that Thailand, the Cayman Islands and Brazil all saw drops in enquiry levels, whilst the USA held firm, also indicating that its own property market recovery remains on track.

If you want to move funds to another country for any purposes, always check the travel money exchange rates offered by specialist currency firms against those available from banks.

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