Overseas property buyers can benefit from current exchange rates

People looking to buy property in Europe should bear in mind that they can use the exchange rates to their advantage.

That is according to HiFX, the foreign exchange specialists, which noted that those interested in buying overseas property may be somewhat discouraged by fluctuating prices.

However, the company advised buyers that they could secure themselves a good deal on a property abroad by using current exchange rates.

Mark Bodega, director at HiFX, commented: "Most buyers work to a budget and changes in the Euro/Sterling exchange rate has therefore led to people reviewing what properties they can afford.

"Rather than assuming that because costs have gone up, preferred properties are out of reach, buyers should remember that a drop in demand will mean vendors are also feeling the pinch.

"This leaves buyers in a position to negotiate prices. If buying a European property from a Brit, use the rate fluctuations to negotiate the price of the property."

Overseas Property News posted on 08/04/2008 09:17:01