France steals top spot for Brits buying abroad

France has stolen Spain’s crown as Britons’ destination of choice for buying property abroad as investors look to developed markets, research suggests.

Overseas mortgage specialist Conti's latest "hot spots" report found investors are sticking to more proven locations, with France accounting for almost a third of enquires received by the company this year.

The report also found Spain commands just over a fifth of enquiries, despite negative reports of an ailing property market, as investors shun the emerging markets.

As France's property market is relatively stable, there is a strong appetite for lending to foreign investors, with low interest rates and lower property prices providing a buyers' market says Conti.

Despite dropping to second place, Spain has seen an 8% increase in enquiries since 2008, as buyers are in a strong position due to the number of homes available, low interest rates and the opportunity to negotiate price reductions from motivated vendors.

The report also found Turkey has maintained third place in the table and increased its share to 13%.

"In the current economic climate, British buyers are sticking to the more traditional overseas locations, especially those with history of providing good rental returns," says Clare Nessling, operations director at Conti.

"The smart investor is no longer simply looking to where the best bargains for a swift return can be found, but to where security lies for a longer term investment."