I remember 270 Pesetas to the pound, and 1.70 Euros to the pound, prosperous times for expats in Spain. I remember parity around six years ago, a dreadful time.
It’s 1.18 today, probably a sensible level. On the wider question of house prices, Spain is returning to work after the long summer break and it’s difficult to forecast the winter months ahead.
There are encouraging financial numbers all round for Spain, but with unemployment still at ridiculous levels Spanish people are not buying. But plenty foreigners are and if the Euro declines there may be a flood of foreign buyers.
It could happen, and soon, the German Eurosceptics hold the key to the value of the Euro at this time.