France and Spain popular despite exchange rates

Despite fluctuations in currency exchange rates, the idea of owning property in France and Spain remains popular among Britons, according to a property expert.

Christopher Chadd, head of research from Property Frontiers, commented that the idea of a second home in the sun was the driving force attracting Britons to the European countries.

Mr Chadd said: "No matter what is happening in global property markets, nothing speaks to the British investor's heart as much as owning that second home in the sun."

He added that currency exchange rates were still important "as investors become ever more sophisticated and currency fluctuations more and more volatile, we are seeing a large number of investors looking for advice on currency plays".

Figures from Primelocation show that France was the most searched for property abroad for a year until Spain took the lead in November 2009.

Last month Spain accounted for 30 per cent of the total number of searches.

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