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