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Posted August 20th, 2015 by Charles Purdy

Act fast to get the best deal on your European property

One month ago, the GBP/EUR rate hit over 1.43 for the first time since 2007 – compounding the continued strength of sterling in 2015. Now, however, with the negotiations between Greece and its creditors all but agreed and confirmation from the Bank of England (BoE) during ‘Super Thursday’ that there was unlikely to be an interest rate rise before Christmas, the tables seem to be turning for this currency pair.

Europe’s economies are strengthening
Alongside this, economies are strengthening in the previously unstable European countries that are popular with British expats, such as Portugal, Spain and Ireland. Spain, in particular, has been highlighted as having one of the strongest economies of the big four in Europe (which also includes Germany, France and Italy). The property markets in these locations are reflecting this recovery – with prices rising in line with the strengthened economy. It’s very possible that now may well be your last chance to take advantage of both a strong sterling and low cost property in these countries and ensure a bargain price on your dream overseas property.

How does this affect my plans to buy property overseas?
If you are worried about the impact that a strengthened euro could have on your plans, call Smart Currency Exchange today or click here for a quote. If you are looking to purchase in the next couple of months, you could use a handy tool called a Forward Contract to ensure you can still achieve the current strong GBP/EUR rate. This minimises your risk against a strengthened euro and means you can plan your budget with price certainty.

Buying property further afield
On the flip side, purchasing property further afield may well become easier, thanks to the strength of sterling against both the US dollar and its Australian and New Zealand counterparts. The Antipodean currencies have been negatively affected by the actions of the People’s Bank of China, who has already devalued their yuan twice this week. Events in China, particularly weak export data figures, have also had a negative effect on the US dollar – along with the strengthening euro and low data figures in the country. With property markets in these locations stagnating, now could be a great time to take advantage of the weakened dollars and grab a bargain in these locations.

To find out how far your budget will stretch, and find out how to best take advantage of the strong sterling, get a no-obligation quote from Smart Currency Exchange today!

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