The euro’s really been through it lately, but the weakness of the single currency is great news for those that are looking to buy a property abroad.
For example, at the end of March 2014, a property worth €1.8m would have cost you £1,506,150 (at the GBPEUR exchange rate of 1.1951). At the time of writing, the GBPEUR exchange rate was 1.4100, so you’d need to pay £1,276,462 for the same property.
That’s a massive saving of £229,688 before you’ve even started negotiating on the asking price. Tempting, isn’t it? If you’re thinking about moving oversea, our Complete Guide to Moving Abroad is full of useful hints and tips about making your dream a reality.
On top of that, you can save even more by getting smart when it comes to making the payment. A specialist international payments broker like World First will take a smaller margin than the high street banks, so you could save thousands more by making the right choice. For example, with World First’s great exchange rates, you could save even more.
If you’re thinking about moving abroad, the strong pound against the euro makes now a pretty good time to take the plunges.
Here’s how the exchange rate has made these great homes all over Europe cheaper in the last 15 months.
Les Adrets-de-l’Estérel (nr. Cannes), France – €1.5m
Calvià, Mallorca, Spain – €1.8m
Florence, Tuscany, Italy – €950,000
Quinta Do Lago, Algarve, Portugal – €650,000
Tenerife, Canary Islands, Spain – €890,000
Chania, Greece – €350,000
Noto, Sicily, Italy – €1.5m
Gironde, France – €780,000
Paphos, Cyprus – €480,000
Barcelona, Spain – €1.25m
These aren’t just savings of a few pounds here and there – we’re talking tens of thousands of pounds!
Thinking about buying a fab new home overseas? – check out our Complete Guide to Moving Abroad