San José Property Now More Affordable for Brits, as Pound Climbs
Are you thinking of buying a property in San José? If so, it may interest you to know that buying a home in the Parque Natural de Cabo de Gata will now set you back a lot less. This is because the pound to euro exchange rate recently hit a 7.5-year high, at 1.4256, its strongest since early November 2007!
What this means for you is that, when you transfer money from the UK to your Spanish bank account to buy a villa in Almeria, you'll get more euros. For example, let's say you transfer £250,000 to Spain. With that sum, you’ll now get +€56,000 more than if you’d bought a San José property back at the start of 2014, when the pound was far weaker.
In other words, that's an extra +€56,000 sitting in your Spanish bank account, just because the pound is stronger! With that sort of money, you could buy a more luxurious property in San José, decorate the place to your taste, or just pocket the sizeable saving for a rainy day!
Moreover, buying a Spanish villa could soon become even more affordable, if sterling climbs higher versus the euro. The pound may rise above this 7-year high, first, if Greece leaves the Eurozone, as looks entirely possible. Second, the pound may also climb higher, because the UK economy is easily outpacing the Eurozone’s.
With this in mind, make the most of this advantageous exchange rate while it lasts, and buy your property in San José!
By Peter Lavelle
+44 (0) 1494 671800
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