Cheap Property Spain - Its Not All Doom and Gloom for Vendors

With all the talk of heavily reduced property in the Costa Del Sol and vendors having to take rock bottom offers in order to sell their property, there is some consolation for those who purchased a holiday home when Sterling was at its high point against the Euro.

Consider this - many UK purshasers bought a Spanish property when the rates were around €1.50 to the Pound, this means that they obviously have their property asset in Spain fixed Euro denomination. Even if they drop their asking price when its time to sell, when they repatriate their funds back to GBP they will be able to buy far more British currency given the rates are now at around €1.15.

Although this, for many is a bitter pill to swallow some of these losses will be absorbed by the exchange rate, in fact the UK economy seems to be lagging behind that of our European counterparts, with France and Germany officially out of reccession with positive GDP figures produced earlier this month.

Could this lead to parity between the Euro and the quickly de-valuing Pound?

• Rate this Post!

  Select Your Rating:

  • 5 Stars (Excellent!)
  • 4 Stars
  • 3 Stars
  • 2 Stars
  • 1 Stars (Poor)

• Share this Post

  Share With A Friend:

  Your Name Your Email

  Friend's Name Friend's Email

  Optional Message

  Send

• Print
• Social Bookmarking

  Add to Bookmarks: