by Andrew Batt
Indonesian property is gaining in popularity with overseas buyers, according to data from one of the U.K.’s leading property portals.
The April ‘Top of the Props’ report released by The Move Channel revealed the country is ranked as the 22nd most popular based on website enquiries – up from 31st place just five months ago. Indonesia now accounts for 0.79% of all overseas property searches on the website – double the amount since December 2011.
Thailand remains the most popular country for overseas property searches in Southeast Asia and is ranked 14th in the latest report with 1.53% of all searches. The Philippines is ranked in 33rd place with 0.37%.
Malta edged its way into the Top 10 overseas property destinations, accounting for 2.59 per cent of enquiries. This was enough to climb four places in the international chart and become the eighth most popular place in the world for real estate buyers.
It may be the European Union’s smallest country by both population and size, but Malta made a bigger impression than Germany, Greece and Cyprus during April, placing it just 0.04 per cent behind the traditional market of Turkey. But while Turkish prices have been increasing amid constant buyer demand, Malta teased investors with more affordable homes in an overlooked market.
Demand for several traditional destinations decreased from March, with Spain and the United States receiving 1.77 per cent and 3.22 per cent fewer enquiries respectively. The only traditional countries to see interest increase were third place France and fourth place Brazil, as investors targeted more resilient property markets in an uncertain economic climate.
These monthly fluctuations within the Top 10 may seem slight, but the impact of the global financial crisis can be seen over the long term. During the last six months, Brazil has ousted Italy completely as a buyer favourite, forming a new Top 5 of overseas property destinations – Spain, U.S.A, France, Portugal and Brazil.
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