Blakemore Walker Chartered Surveyors and Legal Consultants

NORTH SPAIN AND THE COSTA VERDE

SPECIALISING IN PROPERTY PURCHASE AND SALES IN ASTURIAS, CANTABRIA & GALICIA

AUGUST 2010

There seems to be some stabilisation in the current exchange rate between the euro and the pound at a level around 1.18 to 1.21. It is certain that this stability is bringing some UK purchasers back to the market, but only time will tell.

Clive Robbins Managing Director, Blakemore Walker

Aug 2010

BBC EXCANGE RATES business page

MAY 2010

The pound against the euro has become more volatile within recent weeks following the crisis in the euro zone and the outcome of a hung parliament in the UK. It is currently difficult to predict which way the pound is headed from here, but I suspect that until a government is formed and the euro crisis is resolved there will continue to be volatility. Purchasers should be careful to ensure that they understand the financial implications of any potential future exchange rate fluctuations.

Clive Robbins Managing Director, Blakemore Walker

May 2010

FEB 2010

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