Weaker Euro means Christmas comes early for Brits buying property abroad

Saturday, November 23, 2013

Weaker Euro means Christmas comes early for Brits buying property abroad

Homes in popular Eurozone destinations, including France, Spain and Portugal, have got cheaper for British buyers during November, thanks to the Euro weakening against the Pound. The Pound jumped to a nine-month high against Europe's single currency on 7th November when it hit £1/€1.199.

This followed the news that the European Central Bank (ECB) had decided to cut interest rates to an all-time low, namely to 0.25 per cent from 0.5 per cent. Further news on 20th November that the ECB might consider negative interest rates supported the Pound even more, pushing it to £1/€1.20. As of 25th November, the rate was steady at £1/€1.195.


Here we pick a selection of properties to demonstrate the saving in the purchase price gained by the increase in value of the Pound against the Euro in November 2013 when compared to August 2013.


British buyers cash in on the increased value of the pound in November 2013 when buying property in Portugal

Coudons, Aude, France
€95,000
Detached stone four bedroom house set in 850m2 gardens in a quiet location with excellent views.
Cabinet Jammes Immobilier


Vale do Lobo, Algarve, Portugal €350,000
Two bedroom split level apartment with private pool overlooking communal tennis courts.
Algarve Elite Property

British buyers cash in on the increased value of the pound in November 2013 when buying property in Italy British buyers cash in on the increased value of the pound in November 2013 when buying property in Spain

Moltrasio, Lake Como, Italy €1,000,000
Beautiful two bedroom apartment within traditional Italian villa directly facing the lake.
Casa Travella

Calpe, Alicante, Spain
€250,000

Two bedroom villa with communal pool, driveway parking, sold fully furnished.
Home Espana

A stronger Pound is good news for anyone buying in the Eurozone, so make sure you don't waste it when you come to exchange your pounds into euros. The simplest way to get value for money when exchanging your pounds and sending currency abroad is to use a currency exchange specialist who will help you make fast, cheap and secure bank to bank transfers. You can read this free guide from our partners at Smart Currency Exchange, or sign-up for an account with them now.

Why use a currency exchange specialist?

Smart Currency Exchange typically offers exchange rates that are 2-4 per cent better than banks, and they will also secure an exchange rate for you, in preparation for a future payment, such as completion on a house in France or Spain. This means that between paying a deposit on a property and paying the outstanding balance, a period typically of a month or more, you know your exchange rate won't change, so the price in pounds will remain the same to you. This delivers peace of mind and helps you to budget.


To find out more, download their free guide here.

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