Could international money transfers help property negotiations?

International money transfers could offer Britons more bargaining power when it comes to buying overseas property.

According to Marc Da-Silva, freelance property journalist, the "room for negotiation is now huge" in the overseas property market.

This is due to the fact that the markets have either bottomed out, or people are aware that prices are getting very close to their lowest point.

Mr Da-Silva added that currency exchange rates are also affecting the market.

"Sterling has improved," he remarked. "Last year we were looking at something like parity – one euro to one pound.

"[Today's rate] is not great, but it is an improvement. The pound is also better than it was against the dollar a year ago, so it means that the pound will go further in places like America."

The comments follow a report from the Worldwide Property Group, which found that there has been a 26 per cent increase in the past year in the number of people who believe that now is a good time to make a foreign property purchase.

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Posted by Chris Barber