Strong pound cuts cost of buying Spanish country property for Brits
Spanish property is now more affordable! If you’re a Brit, you can now buy a Spanish property for considerably less, because the pound has hit a 2-year high against the euro. In particular, sterling recently hit 1.2699, its strongest versus the common currency since August 21st 2012.
What this means for you is that, when you transfer money to Spain to buy a Spanish bank account, you’ll receive far more euros. For example, were you to exchange £125,000 to buy a Spanish country property, you’d now receive +€17,000 more than if you’d done so back in March 2013, 18 months ago, when the pound was weaker.
So, with an extra +€17,000 in your Spanish bank account at no extra cost to you, you could buy a more luxurious Spanish property, get an extension or a swimming pool – whatever you choose!
Given this, it’s a great time to buy a Spanish country property, as the strong pound makes it more affordable for you.
By Peter Lavelle at foreign exchange broker Pure FX. For free expert currency advice when you buy a Spanish property, call me on +44 (0) 1494 671800 or email [email protected] I’d be delighted to help.