Cost of euros – important to us!

Of course, when one’s natural currency is the pound sterling, the euro rate is vital as it will ultimately reflect on the price you pay for a property in Spain. Today, Currencies Direct are quoting a rate of €1.1735 to the pound, and looking at other foreign currency traders, that’s about the good rate at the moment.

The Euro seems to have settled a bit or should I say, has remained constant, which is good for our buyers, as a level playing field is so important in this business. Gone are the heady days of €1.45 to the pound when UK buyers were really getting such amazing deals on new Spanish property. Although, when I do the calculations, look at the prices and make a comparison as to what £120,000 buys in the UK and what that amount of sterling buys in Spain – it really shows what excellent value for money the Spanish market has to offer.

As an example we have a two bedroom apartment on a golf course in Murcia with a starting price of €85,000 – add on taxes and round up to say €105,000 for everything – that’s’, at today’s rate £89,500 and its on a golf course – NOW that is value for money! Please tell me somewhere in the UK where we can buy anything approaching this at this price and in the sun! Spain is value for money!

 

Posted by: Jeremy on 01/03/2017 @ 9:56 am
Filed under: Blog

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