Strong pound giving buyers more bang for their buck

For overseas property buyers, the old favourites reign supreme, with France and Spain continuing to top the hot spot destination lists. And there may actually never be a better time to buy – bargain property prices, historically low mortgage rates and good rental yields are all making it more affordable right now.

And this week, it’s just got even better. Thanks to the pound rising against the euro to a very nice €1.22, homes in popular Eurozone destinations have just got even cheaper for British buyers, giving them more buying power and more money in the pot.

When you consider that it was only last summer that the value of sterling was around €1.14, the difference is pretty significant when you translate it into property prices. It means that for someone considering a home worth €200,000, the property now costs £163,934 compared with £175,439 at the start of August 2013. That’s a saving of £11,505. Not bad.

This timely combination of excellent buying conditions won’t last forever and could be too good to ignore.  As ever, however, it’s imperative to do your homework and to take professional advice before committing to anything, and you should always go through the same process that you would follow if you were buying a property in the UK.

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