Are international money transfers helping boost Spanish property sales?

International money transfers to Spain could be helping to boost property sales.

The Spain Property register revealed a 13 per cent year-on-year rise in the volume of property sold in the third quarter of 2010.

Indeed, there were a total of 124,593 homes sold between July and September.

Mark Stucklin of Spanish Property Insight told Overseas Property Professional: "On a rolling 12-month basis, there were 454,283 sales over 12 months to the end of the third quarter, up an annualised four per cent and a quarterly three per cent.

"Even if a percentage of these sales were banks swapping debt for property, I think the market has found its floor at around 400,000 transactions per year."

The news source also reported that information from the Instituto Nacional de Estadistic showed a 4.2 per cent increase in the average value of mortgages constituted in September.

International money transfers to Spain could help Brits to buy property in the country by avoiding high foreign exchange fees often charged by high street banks.

Click here to make an International Money transfer to Spain

Posted by Thomas Smith