Corporate foreign exchange news

Published by Jamie JemmesonChina's southern island of Hainan is witnessing an impressive real estate boom that may make it an attractive prospect to those considering taking out a mortgage for foreign property.According to MarketWatch, house prices on the tropical island have increased by more than a third in the past five weeks, with sales activity showing little sign of abating.Hainan's white-sand beaches, luxury condos and jungle-covered mountains have encouraged visitors to the island to draw parallels with Hawaii, while recent announcements from Beijing suggest that Hainan may one day surpass its Pacific competitor as a premier holiday destination.Planning authorities have unveiled a project to establish the island as one of the world's most desirable travel hotspots by 2020, which may encourage those considering taking out a foreign property mortgage for real estate on the island to do so quickly.The island is also becoming more accessible for visitors, with access to the mainland offered via ferry, air and rail transport.For more information on purchasing currency for regular or one-off payments, visit our Personal FX site