According to research by Savills, France has replaced Spain as the most popular destination for second home buyers, despite Spain’s continued dominance of TheMoveChannel.com.
Savills suggests that Spain’s reign as King of the second home destination is over.
France has seen a litmited decline in house prices giving the impression that the property market has remained slightly more stable than that of Spain. “The traditional prime property hotspots, which attract wealthy lifestyle buyers, have been more resilient to the downturn,” says the report. “They include selected areas of southern France, the Alps, Portugal’s Algarve region, and high-end locations in Spanish islands such as Mallorca.”
Overseas mortgage specialists Conti stated in a recent report that French property attracted 39 per cent of all enquiries with Spain coming in a close second.
Spain continued to top the charts at The Move Channel – Spain accounted for 13.3% of overseas property enquiries in August, with France in second place with 11.5%.