Can you beat the Exchange Rate Blues?
If you live in the UK and are interested in buying a property in Spain you will be very disappointed to see that the pound is currently hovering at an all time low against the euro. Are you facing the fact that your hard earned money will buy you much less in the way of Spanish property than it would a year ago?
Well don’t despair. Buying at better rate of exchange is not a thing of the past.
The trick is to search out developers who are offering their prices at a fixed sterling price. This is one of the latest options we’ve seen from developers and it can be a very attractive proposition if you are in the market to buy. Why? Well not only does the fixed sterling price mean you can forget exchange rate fluctuations, the exchange rate offered is usually very good.
For example, a property which is currently advertised as €136,000 euros is available to buy at a fixed sterling price of £90,600. This means if you buy at the sterling price you are getting an exchange rate of 1.50 euros to the pound on your property purchase. We have seen more developments offering this option and it is certainly something you should talk to your agent about.
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