Property interest could boost money transfers

International money transfers could become more popular as searches for foreign properties have increased.

Property website Primelocation.com has reported a 95 per cent increase in searches for property abroad between March 2009 and March 2010.

Currency exchange movements, including sterling's gains against the euro and the dollar, are thought to be partly responsible for the rise in interest.

Ann Wright, international development manager at Primelocation.com, commented: "The pound may need to rally further before transactions levels can set off on a steady recovery.

"But buyers are certainly more willing to consider purchases in the established, favourite markets of Spain, France and the US."

Ms Wright added that the general election was likely to bring "greater clarity" to the market and that yet more people could begin to look at proeprty abroad.

The comments echo those of James Dearsley, European sales manager at Atlas International, who suggested that the general election will boost interest as the pound stabilisies regardless of the result on election night.

Posted by Sarah Pitton

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