Spanish Property Insight › Forums › Spanish Property Forums › Real Estate Topics, News & Discussion › Official, Eurozone Has To Cough Up For Greece › Re: Re: Official, Eurozone Has To Cough Up For Greece
Maybe I’m wrong but would Brits really want to buy property in Spain and the Eurozone now especially with the hint of a devaluation of the euro and therefore their new home?
Many existing owners are complaining about the high price Euro, so they would be winners, there are always winners and losers in any change. The currency the debt is repaid in will also have a major impact, but generally converting from the German backed Euro to Spanish paper will damage its appeal to investors immensely. Cheap borrowing costs for the Euro is the major reason for the rise in property prices in the southern countries; imagine how many would take a peseta based mortgage at a rate of 18%?