Exchange rates' not putting off travel to property in Spain'

Fluctuating exchange rates are not putting people off travelling to stay in accommodation on the continent, such as property in Spain, an industry specialist states.

Theo Papathanasiou, Greek desk manager at currency broker World First, says the value of the euro has weakened considerably over the last few months.

He also stresses the role that expat communities play, as he says people are attracted to areas where there is a large concentration of English-speaking residents regardless of exchange rates, which includes many areas of Spain.

"On the more permanent expat settlement popularity, climate certainly plays a central role," Mr Papathanasiou explains.

He concludes that overseas travellers are far more likely to choose a destination where they can get good value than cancel plans altogether.

According to sector website YouTravel.com, the Costa del Sol has seen a sales boost of 14 per cent compared to this time last year, indicating the popularity of staying in property in Spain.