British still eager to buy Spanish property

April 15, 2009

Recent figures revealed that around 40% of Britons intend to buy a home abroad as soon as their circumstances allow it, and property in Spain is still ranked as one of the preferred destinations.

The current exchange rate is seen as the only major barrier stopping potential buyers, although this week has seen a glimpse of recovery with the rate increasing from almost parity at the end of 2008 to around 1.10 euros to the pound sterling this week.

Experts warn the recovery will be slow, but agree the strength of the euro reached its peak over Christmas and its exchange rates against other currencies are expected to fall gradually.

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