• Strong pound cuts cost of investing in Spanish property for Brits

     

    11.09.2014

     

    Are thinking of investing in Spanish property this year? If so, you mean be pleased to know it’ll now cost you less to do so, because the pound recently hit a 2-year high against the euro. In particular, sterling has reached its strongest versus the common currency since August 21st 2012, at 1.2699.

     

    If you intend to invest in Spanish property, this means you’ll receive a far higher euro total when you transfer money to Spain. To be specific, were you to transfer £125,000, you’d now receive +€17,000 more than if you’d done so 18 months ago, back when sterling was weaker. So, the rising pound makes investing in Spanish property much more affordable!

     

    Moreover, investing in Spanish property may become even less costly soon, if sterling continues to rise. This is because, first, Scotland looks set to reject independence at next week’s referendum, which may lift the pound. Second, Bank of Austria chief Ewald Nowotny recently called a weak euro “positive.”

     

    With this in mind, 2014 is a great time to invest in Spanish property, as the strong pound makes it more affordable to do so!

     

    By Peter Lavelle at foreign exchange broker Pure FX. For free expert currency advice when you invest in Spanish property, call me on +44 (0) 1494 671800 or email peter.lavelle@purefx.co.uk. I’d be delighted to help.

    Categories: General

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