Investors from the old Soviet Block countries and those from the Scandinavian and Benelux countries as well as Spanish Nationals themselves are currently snapping up some incredible bargains on the Spanish Property scene whilst the traditional UK buyers are missing out big time and we know why. The Pound versus the Euro devaluation is making it difficult for UK Pound buyers to shake off their recessionary blues. I used the word “devaluation” whereas I think common parlance for anything negative these days is “re-alignment” call me cynical if you like but the truth is I don’t see the Pound coming back to anything like the levels we enjoyed before.
How long can we all just sit on the fence?
Ex pat owners seeking to get back to the UK have reduced their asking prices and as they get a better rate of exchange now as long as they are going Euro to the Pound they can and have reduced their prices right?
Only problem is that it’s not us Brits that are getting the benefit such as those that are already in the Euro who can take advantage of the prices windfall without the Pound/Euro fiasco.
Costas killing the golden geese. July 13, 2009 by Michael
