Spanish property prices declining

Organising a good currency exchange rate on the euro could help people to pick up a bargain property in Spain after prices have reportedly fallen over the past three months.

According to the Housing Ministry in the Mediterranean country, the average price of houses and apartments declined by 4.6 per cent in the three months through March when compared with the same quarter in 2010.

Bloomberg stated that the drop in prices is due to sellers scaling back their demands hoping to complete sales before interest rates rose.

Fernando Encinar, head of research at Idealista.com, told the news agency: "Rate rises discourage buyers and sellers dropped asking prices before rates increased to encourage sales."

The European Central Bank increased its base rate of interest from one per cent to 1.25 per cent on April 7th.

Using a foreign exchange broker to make an international money transfer to Spain could help property purchasers keep their costs down by accessing very competitive euro exchange rates.

Click here to make an International Money transfer to Spain

Posted by Thomas Barber