Property Market in Spain Revives
Here's an interesting article from Peter Lavelle of Purefx:
Great time to buy property in Spain as market revives, pound rises
Are you a Brit thinking about buying a property in Spain? If so, it may please you to know it's now a fantastic time do so, for several reasons:
1. Spanish property purchases rose +8.8% in June compared to 12 months ago, according to authoritative Spanish property portal Idealista.es.
This suggests that property prices in Spain may now have bottomed out. In other words, if you want a bargain before prices rise, now's the time!
2. New Spanish property developments may begin to emerge in 2015, according to Spanish bank BBVA.
If the Spanish house building industry is getting back on its feet, this also suggests that prices may soon begin to climb, making now the time to snap up a cheap property!
3. Q4 2013 was the first time house prices in Madrid and Barcelona rose at the end of the year since 2006.
If house prices are recovering in Spain's capital cities, this implies that Spain's property market as a whole may soon revive too, meaning that bargain properties could soon become scarcer!
4. Sterling recently hit its highest against the euro in 23 months, or since August 21st 2013, at 1.2699.
This means you'll receive more euros when you exchange currencies than any time in almost 2 years, dramatically cutting the cost of buying a property in Spain!
With this in mind, it's a great time to buy a property in Spain, while prices are still low, and the strong pound cuts the cost of doing so!
By Peter Lavelle at foreign exchange broker Pure FX. For free expert guidance about the best way to exchange currencies when you buy property in Spain, call us on +44 (0) 1494 671800 or email email@example.com. We'll be delighted to help.
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