With a strong pound and property prices still low in France, it is a great time to find a bargain and buy your property in France for less.
During the last couple of weeks, we have seen the euro weakening following the decision of the Swiss National Bank to scrap the cap on the franc and fears over the quantitative easing approval by the European Central Bank, to rescue the depressed European economies. The outcome from the recent Greek election has also created an uncertainty about the future of Europe and Greece, which hasn’t helped the euro.
As a consequence, the GBP/EUR rates have reached their highest level in seven years, creating a substantial opportunity for potential overseas buyers to get more Euros for their pounds and therefore maximise their budget!
To put this in perspective, buying a property in France for €200,000 will now cost you £18,900*less compared with January 2014.
According to a recent article published by the Telegraph**, the French property market is struggling, with prices in France down by 1.2pc. However, France’s property market has notable regional variations. The prices in the most popular regions with good transport infrastructure –such as Dordogne- will always hold their value. However, in areas such as Midi-Pyrénées and Poitou-Charentes bargains can be found.
To take advantage of the strong pound, it can be a good idea to talk to a foreign exchange specialist such as Moneycorp. They can provide you with free guidance on the best way to buy your euros, to make sure that you maximise your budget in Spain.
Moneycorp also gives private clients the opportunity to fix the rate for a future payment through a forward contract, or to place a market order to target a higher rate and protect your transaction from a sudden drop in the rate.
You can register with Moneycorp today–even if you are at an early stage of the purchase process. It will help you to establish your budget and to make a decision about the best time to buy the euros once you find your dream property.
*The highest rate on January 2015 was 1.3502, whilst the lowest rate was 1.1974
** “Time to buy a home abroad? Where the strong pound meets inexpensive housing” The Telegraph Online by Kate Palmer 31st Jan 2015
Registering with Moneycorp does not involve any cost or obligation, but allows you to speak to an expert dealer and access live rates whether in the UK or in Spain. To open an account with Moneycorp, please click here. Alternatively you can send them an enquiry.