Buckinghamshire, United Kingdom (13 June, 2011) – Currencies.co.uk, a leading foreign currency exchange provider, has commented on the Euro-zone crisis which could result in one in two Brits selling their holiday homes.
Currencies.co.uk is a leading currency broker providing foreign money transfers whilst offering the best exchange rates in the industry. Currencies.co.uk can also provide private and corporate money transfers which are easy and hassle free, and can offer expert advice and support on their services and the currency market.
Currencies.co.uk has recently predicted that one in two Britons will be forced to sell their holiday homes due to the Euro-zone crisis which has resulted in fallen rental incomes and occupancy rates. In 2010, homeowners letting their second properties witnessed a decrease in their annual profits. Also, in Greece, Ireland and Spain house prices have fallen as they have been worst affected by the Euro-zone crisis due to the Euros’ instability. Many Britons are also deciding to sell their properties due the constant fluctuation between the Euro and the Pound, which has made it increasingly difficult for homeowners to estimate their property’s value.
Stephen Hughes, Director of Currencies.co.uk, commented: “The Euro has undoubtedly been subject to a fluctuation in rate, and due to the falling of house prices and rental incomes we predict that one in two Britons will decide to sell their holiday homes in Europe to potentially receive a return on their investment. We have witnessed an increase in Britons selling their second homes year on year over the past five years as the sterling has increasingly weakened against other currencies, such as the Euro and the US Dollar.”
For more information on Currencies.co.uk and their foreign exchange rates, visit their website at www.currencies.co.uk or call 0800 328 5884.
Currencies.co.uk is the new trading name Foreign Currency Direct. Currencies.co.uk is a leading foreign exchange providers and the first choice for thousands of businesses and individuals to save money when transferring funds. The well-established, award-winning company provides a friendly, efficient service to people moving money for everything from purchasing overseas properties to emigration and investment abroad. In the past ten years Currencies.co.uk has helped over 30,000 Britons to buy and sell property overseas.
Foreign Currency Direct PLC
Freephone: 0800 328 5884
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