Brilliant time to buy Alicante property, as pound strong versus euro
Do you intend to buy a property in Alicante in 2016? If so, whether you’ve got your eye on a 3-bedroom apartment next to the beach, or a 2-bedroom flat in El Campello, you’ll be pleased to know that it’s now less expensive. This is because the pound to euro exchange rate has hit 1.29 this week, +9 cents higher than 2 years ago, meaning you’ll receive more euros when you exchange currencies.
So to put this into context for you, let’s say you intended to transfer £250,000 to your bank account in Spain, to buy a 3-bedroom villa in Alicante with a swimming pool. Were you to transfer this sum, today you’d receive +€322,500, or +€22,500 more than if you’d made the same transfer back in January 2014. Hence, this favourable exchange rate will clearly help you buy your dream Alicante home!
After all, there’s so many things you could do with an extra +€22,500 in your Spanish bank account. For instance, you could pay off the legal costs and real estate fees associated with buying your Alicante property, without eating into your original budget. In addition, you could decorate your Alicante home entirely to your taste. Equally, you could just save the extra euros for a rainy day too!
Whatever you choose to do, the favourable exchange rate makes this the perfect time to buy an Alicante property. Make the most while it lasts!
By Peter Lavelle at foreign exchange broker Pure FX / 19.02.2016
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