‘Degree of confidence’ returning to foreign property market
An upturn in enquiries into Brazilian real estate has led one expert to state that a degree of confidence is returning to the foreign property market.
Robin Wilson commented on research from overseas mortgage firm Conti, which showed that the number of people wanting a mortgage for a property rose by 20 per cent in September.
He said that a recovery in prices and an increase in mortgage lending will give people more comfort to take their overseas home ambitions to the next level.
"People are returning to the market with a degree of confidence. The profile of buyers has shifted away from pure investments to more lifestyle focuses which means that the time to buy is still relatively long," he added.
As well as mortgage quote requests rising, Conti also revealed that the value of mortgage applications submitted by the company to overseas lenders also rose to a year high in September.
