Good news for anyone thinking of buying property in the euro zone – the value of the pound to the euro has reached the best exchange rate seen in five years.
The pound is now worth €1.29, having climbed steadily over the last year and a half from a low of €1.14 back in the summer of 2013. It effectively means that the price of a €200,000 home in France, for example, has fallen from around £175,000 to £155,000.
And with exchange rate forecasts issued at the end of last year by Barclays, Goldman Sachs, HSBC and Reuters confirming that sterling should climb higher in 2015, buying power could become even stronger.
Combine this with the bargain property prices and historically low mortgage rates on offer in a number of European destinations – it’s a great time to buy.