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Posted January 23rd, 2013 by Charles Purdy

The real cost of an overseas property…

SMART move

Spain property

Can you guess how much this smart three-bedroom detached villa in Villamartin in Spain’s popular Costa Blanca costs? The truth is, for too many British people it’s impossible to say. Why? Because fluctuating exchange rates mean typical buyers from the UK don’t know until the day they make a currency transfer how many pounds they’ll need to exchange to meet the agreed euro price of their property.

The current asking price of this property, which comes fully furnished and has a solarium offering views of a golf course and the sea, is a tempting €220,000 (for more details contact OGC on 0207 898 0549). But we thought we’d demonstrate how the actual price in pounds to British buyers fluctuated at various points over just three months, thanks to nothing more than exchange rate movements. The result is by a hefty £5,501 – enough to cover the cost of a few family visits to the Costa Blanca.

Property Table

The good news is, you can eliminate the effect of fluctuating exchange rates on the cost of your overseas property. Using Smart Currency Exchange to make all your currency transfers is the first step to making your pounds go further when buying abroad – thanks to their bank-beating exchange rates. Speak to us today though and we’ll reveal how a forward contract could help you fix the cost of your overseas home in pounds, before you have to pay for it in a foreign currency. Call Smart on 0808 163 0102.

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