Strong Pound fuels property market as prices bottom out

Eurozone crisis, strong Pound and attractive prices have  provided Britons with a  boost for buying property in Europe, especially Spain.Spain’s  economic woes have not dashed Britons’ dreams of emigrating to its sun-beaten shores.
It remains the top emigration destination, followed by the US, Australia and then New Zealand, according to a new survey by travel money specialists ICE.
Weather, living costs and the chance to escape from UK politicians all fuel dreams of starting a new life overseas.
Alex Edwards at the currency service UKForex said the eurozone crisis may work in favour of Britons in one respect: “Last year was strong for sterling, making it a great time for Brits to buy in Europe,” he said.
A year ago the pound traded at €1.20, yesterday it was trading at  nearly € 1.31 - the strongest level in almost seven years against the euro and that led to huge saving on properties in popular destinations like the Balearics where prices have already bottomed out.
Local leading real estate sources confirmed yesterday that the British are definitely back in the market, one said that the British are dominating, while others have said the top end of the luxury market is also moving again because prices have dropped.