Climate biggest influence on property buying
Climate biggest influence on property buying
A new survey has concluded that many investors are keen to purchase real estate in countries with attractive weather conditions.Research from GE Money discovered that 36 per cent of investors looking to purchase property in Spain do so because of the favourable climate and the same is true for those planning to buy homes in Portugal and Florida. However, there are other factors than can influence overseas buy-to-let investors.
Gerry Bell of GE Money Home Lending, explained: "Many are attracted to the country [Spain] because they know others who have settled there or are familiar with the destination, others see it as a good long-term investment or simply enjoy the climate and culture."
He added that culture also played a key role for other property markets with 40 per cent of Italian property buyers stressing it as the main reason for investing compared to 24 per cent of those purchasing French-based real estate.
13 July 2007
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