European property 'now more affordable for British expatriates'
29/05/09 18:14
Expatriates should find it easier to pick up property abroad as it is now more affordable, says expert.
According to agent Knight Frank, its Global House Price Index shows 69 per cent of countries noted prices had fallen during the first quarter of this year.
In light of this, buying property abroad should now be more straightforward, says overseas mortgage specialist Conti.
The firm's operations director Clare Nessling observed: "Over the last few weeks we've seen an increase of around 20 per cent in the number of enquiries received and quotes given out for European mortgages."
Ms Nessling believes factors that are responsible for making property abroad cheaper include the recent rate cut by the European Central Bank and the improving pound against other currencies.
Values have dropped in France, Spain and Portugal, which "simply means that European property has become more affordable", she explained.
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