Hartlepool, United Kingdom (PressExposure) June 26, 2009 -- Greece property climbed an incredible 5 places to become 3rd most popular with those searching for overseas property on Property Abroad.com in May, compared to 8th in April.
This shows that the pent-up demand for overseas property that analysts and commentators have been talking about it not only real, but is currently beginning to be released.
One likely cause for this is the fact that Sterling is currently strengthening rapidly against the Euro, now sitting at 1.17, up from 1.07 at the beginning of April. This makes Eurozone property an incredible 10% cheaper to British buyers than it was 2 months ago.
Greece, like many other established markets has had such a massive benefit from this, and a bigger benefit than some of the new emerging markets, because of the price drops seen on property in Greece and the established markets. Greece property and that of established markets should continue to grow in popularity throughout the year, according to Property Abroad.com director Les Calvert.
"The Pound should continue to strengthen against the Euro, increasing the popularity of property in Greece and established markets throughout the year," he said.
"This is because of the positive economic data revealed in the UK in recent days and weeks, and in fact some of the country's most prominent economists have been quoted as saying they believed the downturn bottomed in March. Meanwhile some European economies are only just sliding into recession," he explained.