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Leading Property Group Spain > Blog > Property News > Low Pound favours Expats returning to the UK

Low Pound favours Expats returning to the UK

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Since the beginning of the year sterling has taken a pounding against the Euro.

There are various reasons for this, the most recent being data released on 25th January with regard to the UK GDP which returned a negative 0.3% in the last quarter of last year. Despite growth of 0.9% in the third quarter after the summer Olympics, the overall balance for the year is negative.

The Pound has dropped from 1.23 in December to 1.15 as of today, the lowest in over a year. This is not such good news for Brits wishing to purchase a property in Spain but is positive for Expats selling their property in Spain in Euros and who wish to return to the UK. Given that it’s still a Buyers Market in Spain, this allows some further adjustment by the seller on their sales price allowing them to sell up and return sooner.

In the meantime, other strong markets have emerged over the last twelve months, especially those from Scandinavian sources such as Sweden, Denmark and Norway, and also Russia.

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