Balearics property market picking up

Foreign exchange rates on the euro could be worth monitoring if you are considering getting on board the Balearics-led Spanish property revival.

According to the latest data from the Public Works Ministry, there was 14.5 per cent increase in property sales in the region between 2009 and 2010.

This comes at a time when Spain as a whole has reported a 5.9 per cent year-on-year increase in sales.

While Spain's overall improvement is lower, it is the first time in three years that the country has reversed the downward trend in its property market.

Ignacio Osle, sales and marketing director of Taylor Wimpey de Espana, commented on the news: "Over the past 12 months we have seen buyer interest in the Balearic Islands, especially Majorca, rise steadily.

"The largest Balearic Island offers something for everyone from amazing sandy beaches to stunning scenery, idyllic coves, traditional architecture and wide range of sports and leisure activities."

People who are considering purchasing a property in Spain should research their options for transferring money to Spain.

Getting a good foreign exchange rate will give you more money to invest in your overseas property.

Click here to make an International Money transfer to Spain

Posted by Sarah Pitton