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FEBRUARY 2010 - NORTH SPAIN (COSTA VERDE)

The strength of the pound against the euro has settled down to a rate running between 1.10 and 1.15 since last October. It is currently difficult to predict which way the pound is headed from here, but I suspect that until the general election is passed, there will be little fluctuation beyond the current range. Over recent months prices have ticked significantly lower in the Spanish property market and activity levels are still low. Valuations are now being carried out at 30% to 40% less compared with the top of the market back in 2007. The realisation by property owners that selling prices have to be adjusted in order to secure a sale has meant that increasingly there are more and more reasonably priced properties being offered.

Clive Robbins Managing Director, Blakemore Walker

Feb 2010

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