Corporate foreign exchange news

Spain 'remains popular for foreign mortgages'

Wednesday, 16 February 2011 09:08:59 GMT

Published by Zeb Bham
Britons continue to be attracted by the idea of taking out a foreign mortgage for a property in Spain, an expert believes.
Following the revelation by Spain's National Statistics Institute that there was a drop of 0.4 per cent in the number of property transactions in 2010 compared to 2009, Robin Wilson, head of overseas at Rightmove, said Britons remain interested in buying a property in Spain.
He noted that the country accounts for a fifth of all searches on Rightmove Overseas.
"Whilst there are opportunities or pain - depending if you are a buyer or vendor - in those areas of Spain with oversupply, we're still seeing healthy traffic and interest for quality properties," he said.
Mr Wilson added that areas away from resort-style offerings are becoming more attractive to potential consumers, with smaller towns and inland locations growing in popularity.
There is no sign that the country will lose its place at the top of the table for Brits considering a foreign mortgage and investment in an overseas property, he suggested.
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