Sales increase recorded in Spanish property

The currency exchange rate between the pound and the euro could prove important for people considering buying property in Spain.

According to developer Taylor Wimpey de Espana, the Mediterranean country has seen increases in sales in 2010 of up to 50 per cent compared to last year.

Keeping an eye on currency exchange rates could help Brits to time their international money transfer to Spain in order to lower the cost of buying property abroad.

Javier Ballester, managing director of Taylor Wimpey, suggested that Mallorca has some seen a particularly strong performance.

Properties have fallen in value by approximately 25 per cent, tempting foreign buyers to the island.

He added that there are a couple of factors making Mallorca particularly popular at the moment.

"Firstly, we were not hugely overstocked as the recession hit so the supply and demand was always in our favour," explained the developer.

"Secondly, Mallorca is still considered a unique place and in many ways superior to some of the mainland destinations."

Click here to make an International Money transfer to Spain

Posted by Thomas Smith