Money Transfer News: Property investment tops commodities

Money transfers could be in demand for investors keen to expand their overseas property portfolio.

According to the Worldwide Property Group, the "shaky" state of the commodities market is prompting more people to invest in property.

The company told Overseas Property Professional that investors are looking for "a steadier and safer place in which to put their money" as substantial declines have taken place in commodities including copper, nickel, silver and tin.

Meanwhile, the latest UK Confidence Tracker Survey from the group revealed that 80 per cent of people rank property as their investment of choice.

This is the highest figure recorded since August 2010 and the second highest since the survey began in August 2009.

If people are looking to buy foreign property in order to make money, it makes sense not to spend any more than is necessary on the initial purchase.

While banks are likely to impose foreign exchange fees when investors make money transfers, using a foreign exchange broker to send money abroad for your investment can be free.

The survey also found that 63 per cent of people surveyed believe that now is a good time to buy overseas property.

Kevin Wilkes, managing director of the Worldwide Property Group, said: "[The survey] reinforces that property is still widely regarded as a safe and secure investment … an investment that has demonstrated great resilience in the face of very difficult economic conditions.

"I have always been of the opinion that property is a great place to invest because its value has been shown to rise consistently over the long term."

Today (May 26th), sterling continued to make some gradual gains against the US dollar, approaching $1.63 at 14:00 BST.

Click here to see how much you can save with HiFX's Foreign Exchange services

Posted by Chris Barber