Could fall in house prices prompt international money transfers to Spain?
International money transfers to Spain could be on the rise following a reported decline in Spanish property prices. Tinsa revealed that prices fell by 4.6 per cent in the 12 months to October 2010. Prices in the Canary Islands and the Balearics fell even further, by an average of 5.5 per cent. People considering moving abroad may want to look into making an international money transfer to Spain soon. This could allow them to take advantage of the low property prices and the competitive currency exchange rate between sterling and the euro. Les Calvert, director at Property-Abroad.com, commented on some areas of Spain in which Brits might want to buy property. “You have got the Costa de la Luz which is still an up-and-coming area as regards buying property in Spain,” he said. “You could pick up something really cheap in one of the popular areas of Spain and, from an investment point of view – that would be a wise investment.” Mr Calvert advised investors to “look deeply and tread carefu
House prices can certainly affect the volume of international money transfers.
Our research at independent foreign exchange comparison website MyCurrencyTransfer.com highlights that most overseas property buyers could save money when using a specialist foreign exchange broker.
Findings show that by using a foreign exchange specialist you can get:
- Typically Better Exchange Rates than the high street bank (save between 1-5%)
- More of a dedicated service than the high street banks
- FSA regulation for safety and security of funds
- Currency strategy developed for individual property purchase
- Simple registration process
- No Fees or commission for transfers above a certain amount
Research conducted by http://www.mycurrencytransfer.com – a leading independent foreign exchange price comparison website
