European Property Boosted by Credit-Crunch?

Hartlepool, United Kingdom (PressExposure) December 08, 2008 -- Overseas property news is currently filled with Spain. One report released by the airline Monarch said that Cyprus, the Canary Islands and Malaga are currently their most popular destinations and that Spain is in fact more popular on the whole, this is particularly good news when you consider that Monarch also revealed that 43% more people have booked summer flights than this time last year.

Monarch also announced that 77% of respondents to a poll on the company website said the credit crunch would not reduce the number of flights they would go on next year, although 41% said they were looking to reduce costs.

Other Spanish news headlined Property Squeeze Hits Costa Teguise, concerned a popular location in Lanzarote that is beginning to be hit by the global situation. Meanwhile, other news told how Fuerteventura remains to be massively popular with tourists.

Liam Bailey, chief market analyst for overseas property portal Property Abroad gave us his views on what the latest news means for the various property markets:

"It is no shock to me that people plan to continue holidaying through the credit-crunch, in fact those that can afford it will tend to holiday more because of the considerable stress the current situation brings. This will be of benefit to the conventional European holiday hotspots including Spain, Turkey and up-coming Cyprus; because it will mean the holiday rental markets will remain strong.

"Just how much of a benefit it will be," continued Bailey, "depends on how long the "credit-crunch" lasts; most people had made their holiday plans before the problems became severe and aren't changing them. But if the problems continue three or four years down the line, then more and more people may pull-in-their-belts and holiday in Europe only - as I said, I can't see many people, except the worst affected stopping holidaying altogether. However, more Britain's may decide to holiday in the UK a few years down the line, which could boost holiday rentals in some of Britain's holiday hotspots."

Property Abroad have some excellent overseas property throughout all Europe's holiday hotspots, including: property in Spain from £29,000, property in Cyprus from £31,000 and property in Turkey from £16,000.

About Property Abroad LTD

Property Abroad is rapidly growing into one of the best known, trusted and most successful overseas property portals in the U.K. With a slick dynamic site and very reasonable rates Property Abroad currently has among the most extensive worldwide property listings on the net.

To find out more contact Liam Bailey on or the team at:

Property Abroad LTD
182 York Road
TS26 9EA

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Press Release Submitted On: December 05, 2008 at 8:47 am
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