Rental property demand grows as the hunt for jobs brings more workers from EU countries to the United Kingdom to seek work. According to the ludlowthompson website , demand for united kingdom houses from those countries pet name ‘PIGS’ by a few economies –Ireland, Portugal, Spain and Greece – increases to twenty percent of all demand from the Europe in June, 2010 when compared to just twelve percent in June 2009, a seventy five percent increase.

Ireland, Portugal, Spain and Greece have been teamed together and called as ‘PIGS’ by some commentators since they share the feature of having Government and high external debt. Worries about their debts have made their governments to implement severe austerity measures, which means young workers or professionals are finding difficulty in finding a job in their own country and now there are looking somewhere.

Ludlowthompson website’s Director, Stephen Ludlow, said that the current Eurozone financial or debt crisis has hit Spain, Greece, Ireland and Portugal really very hard and they have seen a huge growth in the demand for the rental houses from those countries since their young professionals flock to the United Kingdom in search of jobs. As the United Kingdom was also hit by the credit crisis and there was increase in unemployment the nation has began to recover, driven by a good performance by the City of London and the financial services sector. The London city has always been the best place in attracting professionals from different countries since it has the flexible property market and there are a lot of jobs for the people you are hunting or would like to work.

The united kingdom has a lot more flexible jobs market than some of the other major EU economies, such as Italy or France that makes the United Kingdom a best place destination for internal professional migration within the EU.”