Feb Time to Buy Spain Country Property, as Pound Climbs Versus Euro
Are you a Brit, intent on buying a beautiful country property in Spain? If so, you’ll be pleased to know that buying your dream Spanish home will now leave less of a hole in your bank account. This is because the pound recently hit 1.4256 against the euro, its highest in 7-and-a-half years, or since November 7th 2007!
What this means is that, when you transfer money to your Spanish bank account to buy your Spain country property, you’ll now get more euros. For example, let’s say you transfer £250,000 to Spain. With this sum, you’ll now get +€56,000 more than if you’d bought a Spanish home back at the start of 2014, when the pound was far weaker.
In other words, that’s an extra +€56,000 right there in your Spanish bank account, at no additional cost to you, just because the pound is stronger! With that sort of money, you could buy the Spain country property of your dreams, decorate the place as you like, or just pocket the saving for a rainy day!
Moreover, buying a country property in Spain could soon become even better value, if sterling continues to climb versus the euro. The pound could exceed this 7-year high, first, if Greece exits the Eurozone, as looks entirely possible. Second, the pound may also strengthen further, because the UK economy is easily outpacing the Eurozone’s.
With this in mind, make the most of this advantageous exchange rate while it lasts, and buy your dream country property in Spain!
By Peter Lavelle
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