Currency exchange rates help Spanish property vendors returning to UK

[Nicholas Wallwork]

Spain's real estate market may still be some way from recovery but some vendors are able to sell*at much less than they bought and still turn a profit, it has been revealed.

At first glance it's tricky to work out how buying a villa in Spain in 2000 for €122,000 and*selling in 2010 for €85,000 can be seen as anything but an unmitigated disaster. In actuality, the client's getting a bargain and the vendor's making a profit. *That's because*the vendor's British and currency exchanges work in their favour.

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[advoco]

I suppose some people might be happy that from a sterling perspective the value of their Spanish asset has not slid as much as the headlines suggest but it doesn't help anyone with a Euro-denominated mortgage to pay off.

 

[rowlandsbb]

For those who have to sell for one reason or another and do not have a € mortgage then the exchange rate has been a great help to them as it enables them to sell in Spain at a cheap price and still not be out of pocket
But this is just a mitigation of the current economic situation of UK residents and we would all have been better without the world economic crash
At least we are now seeing the light at the end of the tunnel and from 2010 a gradual improvement all round

So 2010 may just be a good time to look to buy if you are a life style buyer or now even an investor