Corporate foreign exchange news

Overseas property searches 'on the up'

Thursday, 20 January 2011 08:57:08 GMT

Published by Zeb Bham
More people could be considering mortgages for overseas property after research revealed an increase in searches for homes abroad.
Figures released by Rightmove and quoted by news provider Overseas Property Professional showed that in December there was a 4.8 per cent rise in online searches for homes in countries outside the UK.
Speaking to the news source, head of overseas at the firm Robin Wilson said: "Typically we'd see a seasonal decline in search activity from November to December of around five per cent, so a positive upswing of 4.8 per cent was welcome at year end."
He added that things generally tend to pick up in January, so further growth in the number of people considering mortgages for overseas property could be seen.
Mr Wilson noted that the company does not track sales, so it remains to be seen if this higher demand level has been fully translated into sales growth.
Individuals considering buying a home abroad may be able to make the most of their money by working with a specialist forex dealer in order to achieve the best rates when transferring currency.
For more information on purchasing currency for regular or one-off payments, visit our Personal FX site
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