Spain and Portugal properties 'more affordable now'

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Spain and Portugal properties 'more affordable now'

News Article Date: Thursday 11th of June 2009

Properties in Spain and Portugal have become a lot more affordable for Britons, a new survey has found. Research by money exchange firm Currency Index indicated that a combination of factors have made buying in such countries less expensive, with prices, mortgage costs and exchange rates all increasingly favourable, the Press and Journal reports. The Spanish Costas have seen the largest improvements in affordability, with price drops of up to 30 per cent for two-bedroom apartments. Spokesman for the firm Robin Haynes told the paper: "With property prices and mortgage repayments now significantly lower than in 2008 in many of the UK's favourite foreign holiday-home destinations, we are seeing a renewed demand for currency exchange." Portugal property buyers may have some famous company, according to recent reports. These linked Hollywood actress Angelina Jolie with the country, amid claims that she had instructed an agent to find her a beachfront property on the Algarve.
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