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Fall in Euro increases interest in Spanish property

Mon 21st Jun 2010

THE decline in the value of the euro has helped to lift interest in Spanish property among Britons, according to the Rightmove proeprty portal.

They stated how Spain remains the most popular country for property searches by UK residents, accounting for 22% of the total of all searches made last month. It also accounted for five of the top 10 destinations that saw the biggest increases in searches.

Rightmove commented that the popularity of Spanish property was largely due to a combination of the current exchange rate, aswell as sellers being more realistic about how much their property was now worth following the Spanish housing market problems.

Robin Wilson, head of overseas at Rightmove, said: "May was a great result for Spain, fed by returning confidence among buyers as the bad memories and headlines of last year fade.

"The improving euro exchange rate is definitely playing a part, up 10% on January this year and 20% on January last year, meaning buyers' budgets can go further."

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