Investors can 'lock in' to a rate
People keen on investing in the Spanish property market
may benefit from 'locking in' to a foreign exchange rate, according
to an expert.
Karl Pierre Sieha, marketing assistant at Currencies Direct,
said those buying a property abroad can "lock in a rate now and
then and choose to do a transaction later on within the next two
years or so".
This will enable them to take advantage of a foreign exchange
rate that may not be available on the open market in the near
future.
Mr Sieha added: "Because the market is changing and fluctuating
all the time, it is all about getting the best rate. The ball is in
the client's court as to when they want to make the
transaction."
This comes after statistics released by the Spanish Ministry of
Industry, Tourism and Trade showed a rise of 2.9% in the number of
international tourists visiting the country during the first three
months of 2011.
In total nine million holidaymakers visited Spain during the
January-March period, indicating remarkable improvement in the
popularity of the destination.
Copyright Press Association 2011 | Jake Richards
