If you have been tracking the pound versus the euro over the last few years you will realise that the current high of 1.25€ to the pound sterling is the best it has been. We have now had a consistent period of a strong pound of at least 2-3 months and this is really affecting buyer’s decisions.
The movement of just 5 points on a property being sold at 200,000€ could represent almost £7000 saving on the purchase. This is helping further strengthen the market and sales are continuing to be strong.
Clearly this only affects the UK market, we are definitely seeing an increase in sales, enquiries and viewings from this sector of the market. This is not so good if you are selling with the intention of taking the money back to the UK and it may be best to hold the money here in Portugal if you can.
The major currency exchange companies are indicating that this current “high” is a temporary one and by Christmas the rates will be back around 1.20€ to the pound, if not lower. Therefore if you, it may be best to wait a while before transferring your euros.
So, if you are considering buying in Portugal now is the time; a half million euro property could cost you around £17,000 less at these current rates. That saving would pay for most of your legal costs or a superb furnishing package in the property. We have been listing heavily recently and have a super range of properties available at all price points, take a look on the website in the “New listings” section to see what is new to the market.
W: http://www.bpaproperty.com/
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