Eurozone property investors sell up to cash in on currency trends

Permalink: Eurozone property investors sell up to cash in on currency trends
by Gill Montia

Baydonhill, the overseas mortgage and foreign exchange specialist has reported that Britons with properties overseas are selling up and transferring their funds back to the UK.

Long into the credit crisis, the enthusiasm of Briton’s for investment opportunities or second homes in sunny and beautiful locations appeared to be undented.

However, signs of a downturn in the UK economy and the fall of sterling against the euro has finally shifted sentiment and according to Baydonhill the number of people selling-up and repatriating funds is on the rise.

The firm’s head of the FX desk, Bruce Borrie, explains that many Britons have bought properties in France, Spain, Portugal and Italy over the past few years, frequently releasing equity from their UK residences to achieve their dreams.

A rise in the value of the euro means that by selling now they will gain a bounty on their investment.

According to Mr Borrie, repatriation is becoming a discernible trend as UK overseas property investors sell up abroad to cash in on the strong euro.