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UK buyers warming to European property

British overseas property buyers are becoming more interested in owning homes in nearby Europe than further away as transport costs increase, according to Rightmove Overseas.

The UK-based listings website’s search report for May showed an overall increase in searches for overseas property of 15.3% compared to April.

The biggest increase for overseas property searches however, was Poland, which broke into the top 20 for the first time as searches increased by 248%. Elsewhere, the German region of Bavaria had 82% more searches month-on-month and 17 out of Italy’s 20 regions recorded increased user activity. In France, the Dordogne, Aquitaine and Limousin regions all received increases in enquiries, with 74%, 47% and 39% respectively.

Shaheem Golamy, head of Overseas at Rightmove reportedly said: ‘After the bank holidays in April, searches for overseas property increased by 15% in May as people settled back into their normal routine.

‘With transport costs reportedly on the increase, it’s logical that people are starting to look closer to the UK.’

Golamy added that the huge increase in interest in Poland was largely down to their newly formed partnership with Polish property firm Morizon.pl. He added: ‘Rightmove’s new partnership Morizon.pl, which has led to an increase in properties displayed in Poland, has caught the imagination of UK buyers with a surge of users gaining access to the attractive investment opportunities available.’

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