Popularity of Portuguese property hits nine-month high

New research carried out by TheMoveChannel.com has revealed that the popularity of Portuguese property has reached a nine-month high.

The latest Top of the Props index from TheMoveChannel.com, an international portal, found that Portugal re-entered the top three destinations in July 2017, the first time the country has been in the top three since October 2016. Of all enquiries on the portal in July, Portuguese properties accounted for 1.87% of them, with enquiries increasing 2% month-on-month in real terms.  

Portugal was only behind Spain in second place and the USA in first, with the top two countries holding on to their positions for a second month in a row. Property in the US accounted for 6.93% of enquiries, while Spain accounted for 6.12%.

As well as Portugal, France experienced a surge in interest, leaping from fifth place to fourth. In the three months to July, enquiries for French property rose by 16% in real terms compared to the previous three-month period.

Italy, meanwhile, was pushed down to fifth place by the rise of France and Portugal, with only 1.72% of all enquiries on the portal. Italy has still been a regular in the Top of the Props top 5 throughout 2017, however, showcasing the enduring popularity of the country’s real estate market. 

Greece, too, has witnessed a rebound in popularity, rising from 10th place to ninth in July. Property in Greece accounted for 0.69% of all enquiries on the portal, while in real terms enquiries for Greek homes more than doubled in the three months to July.

Tunisia, though, has witnessed the most rapid rise, up 24 places from the previous month to make the top 15, with 0.41% of all enquiries. Turkey also jumped five places from 12th to seventh, with 1.61% of enquiries.

“With summer in full swing, the traditional holiday home favourites rule the roost, with Spain, France and Italy all among our Top 5 destinations,” Dan Johnson, Director at TheMoveChannel.com, said. “However, July sees buyers begin to return to old favourites too, as the tourism industry continues to help boost market recoveries, not just in Europe but further afield.”

He added: “Portugal has been one of the stars of 2017 to date, repeatedly appearing in TheMoveChannel.com's top three destinations. The housing market's recovery continues to build momentum, with prices and transactions both improving steadily and consistently. With Golden Visas on offer in Portugal, Cyprus, Greece and Turkey, citizenship schemes rank alongside tourism as an important driver of international interest.”

You can see the full top 40 property destinations for July 2017 by clicking here.