MARKET WATCH : “France Retains Popularity With UK Holiday-Home Buyers”

Currencies Direct October 26th 2011 - 2 minute read

Retains Popularity With UK Holiday-Home Buyers; Spain Loses out, Reports
Currencies Direct”

The foreign Currency Exchange Experts Note Lack of Market
Confidence has Contributed to Spanish Property Lull

A survey conducted by Savills Research into UK second homes abroad has found that France continues to be the UK’s most
popular location for a second home, riding out any disturbance caused by the

Currencies Direct, financial experts for trusted currency
exchange specialising in transfers for property purchase and business in Europe, notes that this is positive news for the future.

A sustained exchange between UK and Eurozone holiday
destinations could have a positive impact on the current dilemmas facing the
stability of the Euro.

Savills research survey painted an intriguing picture of the
current holiday property market.

whilst seeing a slight decrease in overall sales, performed well according to
2009-2011 data, with a slight increase in the percentage of overall UK homeowners
taking property there.

Still the world’s most popular holiday destination,
pre-recession figures showed that 26% of UK
holiday home owners chose to buy in France; 2009-2011 data found this
percentage increasing to 28%.

The story was not so fortunate for Spain, which
has suffered somewhat from negative press and a higher instance of new
developments and investor buyers rather than ‘lifestyle’ buyers.

The Savills analysis suggested that countries which has long
traditions of tourism from the UK, and high-end or sought after locations such
as the French Riviera and Spanish islands like Mallorca, maintained the most
frequently sought after and lucrative. The amount of international payments
made to these countries for property investment purposes is staggering.

And the price we pay for a second home has also marginally
increased, with nearly 5% of UK
holiday properties costing over £750,000 – the highest percentage in a decade.

What does this mean for currency exchange from the UK? Reviewing
the survey, a spokesperson from Currencies Direct said: “Those purchasing
homes abroad often spend more and more time there and thus require access to
funds from the UK
to pay for living expenses. A specialist provider that doesn’t charge for
transfers and offers competitive exchange rates can save second homeowners thousands
of pounds.”



Written by
Currencies Direct

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