In Spanish property news last week, a weakened Euro is providing tremendous prospects for the some foreign property buyers.
For British buyers especially, the pound has increased in value by 10 percent in the last year and, over the past few weeks, the currency has been at its highest exchange rate against the Euro since 2008.
For shrewd UK buyers holding off on a potential house purchase in Spain, they now enter into the market with the strongest currency in 7 years and the lowest prices in more than 10.
This comes at a time, when general confidence in the Spanish economy is developing strongly, aiding an increase in mortgage agreements and a substantial rise in the number of new build permits.
The currency changes are also expected to boost the tourism market yet again this year. During 2014, a record breaking 65 million tourists visited Spain, spending more money than ever.
Historically we’ve seen that an increase in tourism levels has correlated directly with increasing foreign buyer activity – so, we’re pleased to be seeing a huge 90 percent increase in enquiries so far this year!
