Corporate foreign exchange news
Spanish property prices 'will continue falling'
Wednesday, 09 February 2011 09:00:13 GMT

Published by Zeb BhamThe cost of Spanish property will continue to fall throughout 2011, an expert has claimed.Individuals considering a foreign mortgage for a home in the country may be better to bide their time before investing, Will Needham, editor of Spanish Property Magazine stated.The expert noted that the conditions which first caused the Spanish property crisis have not gone away and so continue to exert "downward pressure" on prices.Mr Needham said that "finance is still relatively cheap" in the country, even though modest rate rises have been predicted by a number of analysts.A range of properties, in particular repossessed homes, are available with low or no deposit, the property specialist added.This year could see an increase in the number of transactions taking place as more people opt to make the most of the low prices, he said.His comments follow claims from Carmen Hernandez Gomez, a market analyst at the Spanish Tourism Office, who earlier this week argued that Brits "feel at home" in Spain.For more information on purchasing currency for regular or one-off payments, visit our Personal FX site



