Why 2015 Presents a Great Opportunity to Buy in Spain

Exchange Rate

A number of respected financial commentators were reporting on the 14^th January 2015 that the GBP/EUR rates have now struck 6-year highs trading at over 1.29 Euro to the £.  In comparison the exchange rate in August 2013 was 1.14 Euros to the £.

What’s the Reason for this Strengthening of the Pound?

On January 25^th 2015 Greece voters go to the polls to elect a Government and all the latest indications show that the main opposition Syriza party are on course to win. This in turn could lead to Greece’s exit from the 19-member euro region, while Syriza leader Alexis Tsipras said his party would end German-led austerity. Der Spiegel magazine has reported that Chancellor Angela Merkel is ready to accept a Greek exit, a development Berlin sees as inevitable and manageable if Syriza wins, as polls suggest. Little wonder that Syriza, which vows to raise wages and pensions, is leading in opinion polls. If it came to power, its demands could be seen as so unreasonable by other eurozone members that a renewed Greek default, and single currency exit, would return as a real possibility.

With so much uncertainty surrounding the fate of Greece there is general unease in the stability of the Euro. Indeed the continuing dismal economic performance of the euro zone also poses a big political risk to the single currency.

All this is great news to the potential British buyer of overseas property as the £ continues to strengthen against the Euro.

House Prices in Spain

The ratings agency Fitch has released a report that claims Spanish property prices will continue falling until 2015 when they will finally bottom out having accumulated a 40% fall from the peak prices recorded at the height of the property boom.

Again great news for British buyers.

Summary

Stop thinking about buying and start acting now. Look at our website for hundreds of great value properties on the Costas including Costa Blanca North, Costa Blanca South, Costa Almeria, Murcia and Marbella. Please visit www.yourplaceinspain.com or if you're about in the Manchester area pop into our Spanish property showroom located at 103 Washway Road, M33 7TY, no appointment necessary. If you are traveling from outside of Manchester or the North West please call us for opening times or see our website.