With the British Pound continuing to strengthen against the EURO, there has not been a better time to buy property in Spain in the last 10 years or so. In the last 2 years alone the pound has gained some 30% in value over the EURO, meaning that for the British investor looking to buy property overseas the time to buy is now. not only are we seeing significant rises in exchange rates but the housing market in Spain is showing signs of recover, especially on the Mediterranean coast (Costa Blanca).
For the smart investor, further savings can be made when buying european properties. Foreign exchange companies like DeVere can help substantially cut the cost of buying Euros, often giving rates of up to 5% less than the banks.
Need to buy Euros soon? How do you secure an advantageous position?
If you are looking at completing on a property purchase/sale, or even just looking to transfer money in the near future you can still take advantage of the current rates. This can be achieved by booking todays rate and holding this for upwards of 12 months (Forward Contract). Effectively allowing you to budget accordingly and eliminate market volatility.
With GBP/EUR rates in such a strong position, it would be prudent to find out how you can benefit from the current highs in the currency market.
Speak to your deVere Foreign Exchange trader to maximise your transfer value.