A euro is now worth as little as eighty three pence sterling as the eurozone’s troubles continue to destabilise the currency, leading to a number of property observers to suggest that such exchange rates could kickstart a new surge in Brits buying property in Spain.
The current rate of the euro’s decline stands between 15 and 20 percent compared to last year, and if the currency’s value continues to decrease Britons could soon swoop for Spanish property, taking advantage of the favourable exchange rates for those buying in sterling.
Speculation is rife that a number of estate agents in Spain will seek to secure foreign exchange rates sooner rather than later in order to entice buyers from Britain, where the economy has stabilised in recent months.
“The Spanish property market has not yet bottomed out,” suggested property analyst Marc Da-Silva. “There is still some way to go in my opinion and it needs to look at the economic housing market downturn.” With Rightmove Overseas revealing that Spain’s most popular property locations make up five of the top ten global locations growing in popularity – topped by the Costa del Sol and Marbella – the signs are looking more and more positive for Brits hoping to buy a property in Spain.
Tags: Brits in Spain, Buying in Spain, Buying Property in Spain, Euro vs Pound, Exchange rates Spain, Living in Spain, Property in Spain, Spanish property
