International money transfer to Spain may rise as property becomes cheaper

Britons are likely to be making an increasing number of international money transfers to Spain as the country's property market becomes more attractive.

James Dearsley, European sales director at property firm Atlas International, said that house prices in Spain have dropped in recent weeks.

As a result, more people in the UK are heading to the country to snap up properties at bargain prices.

"The Spanish property market never went away … People still wanted Spain because it is [called] the world's healthiest place to live, the temperature is always good and it is two and a half hours away from the UK," Mr Dearsley explained.

He added: "This year, with prices coming back considerably, people are starting to see it as a buying opportunity now so it has become that buyer's market which was not perhaps there last year."

Sales of houses in Spain have increased by more than 15 per cent since last summer, according to figures from the country's National Institute of Statistics.

Posted by Chris Barber

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