Expert notes falling global property prices

House prices in most countries are continuing to fall, potentially making emigration a more attractive option for Brions.

Richard Way, a property expert and editor of A Place in the Sun Magazine, advised people currently considering foreign property buys to "grab a bargain".

The comments follow the release of a report from the Global Property Guide, showing that 17 of the 27 countries in which data was collected faced declines in house prices during the third quarter of 2009.

This trend comes despite the fact that six of the seven largest global economies registered GDP growth over the three-month period.

Mr Way said: "If you can afford to buy now, then grab a bargain while you can."

The expert also offered advice on international money transfers - pointing out that currency exchange rates can make a "considerable" impact on purchasers of foreign properties.

"If you're buying abroad and need to transfer sterling into another currency to pay for the property, in the time between agreeing a price and transferring funds abroad, the exchange rate can change, effectively altering the amount you pay for that property," Mr Way commented.

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

Posted by Thomas Fletcher