Brits buying an overseas home benefited immediately from the election of the Conservatives to power last week, with the news causing Sterling to bounce back against major currencies and a positive reaction in the UK property market.
“Homes in the Eurozone and USA got cheaper again for UK buyers during Friday, as the City realised the Tories would gain power with a majority and Sterling rebounded against the euro and dollar,” said Elaine Ferguson, Head of the Resource Centre at OverseasGuidesCompany.com.
“And speaking to people at the A Place in the Sun Live exhibition in London over the weekend, where we received record levels of enquiries for buying property abroad, many people seemed reassured by the election result and were confident about proceeding with their property purchase knowing the UK economy is in a position to maintain growth.
The state of the property market affects practically anyone moving abroad and selling their UK home, so the continuing stability and ongoing house price growth that the new government should bring will benefit these people.
“Looking closer at the A Place in the Sun Live exhibition, unsurprisingly Spain appeared to be the most popular destination amongst property-hunters, with France, Portugal, Italy and Florida also favoured.
This reflects the findings from our latest Quarterly Index, which shows Spain attracting the highest number of enquiries from prospective buyers across all popular destinations in Q1 2015 and a general uplift in the international property market compared with last year.
The exchange rate was also a key topic of conversation at the exhibition, especially given how the rate had moved on the Friday, and shows a growing awareness amongst buyers to send funds overseas in the most efficient way.”
Filed under: http://www.theleader.info/article/47307/
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