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All posts tagged exchange rate

We are currently finding the property market across the Costa Blanca, Murcia and Almeria extremely buoyant.  The excellent euro/pound exchange rate combined with the keen prices we are seeing right now are a big plus for the buyer.  The media are reporting a growth in mortgage completions, and in some locations prices are now actually starting to rise.

Over the last year we have witnessed changes in the property market, for example, 12 months ago buyers had a high number of options and opportunities available to them which helped to drive the selling price of property down.  Fast forward a year and this is no longer the case in many locations.

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High quality re-sale stock is moving, and moving quickly, which creates demand, and that demand creates an upward price movement. All of a sudden the gap between good re-sale property and high quality new build options is smaller.

The entry level for a new build apartment, in a good location is currently circa 100,000 euro, (approx £71,500.00.)  The new build opportunities on offer right now are with a high level spec and a 10 year build guarantee that makes this option difficult for some to ignore.

New Build Apartment in Villamartin, Southern Costa Blanca – Click on image for details

Whilst at this time the market most definitely favours the buyer, anyone looking to purchase property in Spain should seek advice from an independent lawyer prior to purchasing.  This is to ensure that all obligations of owning a property in Spain are fully understood.  It is also essential for buyers to know how to buy euro in order to maximise their pound sterling’s buying power.

Penthouse Apartment in Ciudad Quesada – Click on the image for details

Your Place in Spain Ltd will always offer the service of a ‘Safe Purchase’ to clients, eliminating any unwanted surprises in the purchase process, and making sure that clients are ‘in the know’ at all times.  Be savvy and be safe.

Rob Lynsdale, Proprietor

Your Place in Spain Ltd

Did you see our feature on Townhouses and Bungalows from across the Costas this week?

A beautiful selection with amazing opportunities – http://eepurl.com/br4zsb

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Did you read our blog a few weeks ago about the exchange rate?  We said it then, and we will say it now…unfortunately, there is just no predicting what the rate will do.  Although what we can do is look at up & coming issues and situations that could affect it.

This past week we have seen the Pound/Euro rate fall from 1.38 to 1.36, only 3 weeks ago the rate was at 1.41, an 8 year high.  So, why has it done this?

Last week figures were released showing that the UK is now the fastest growing major western economy, that combined with the fast approaching General Election, plus the live debates that took place last week and the polls that were released on the back of that.  These are all matter that could be contributing factors to the dip in the rate.

However, with the rate as it is UK buyers are still doing great.  Cast your mind back to January, the rate was so much lower and as it stands now the rate is 10 cents higher than at the start of the year.

If you’re thinking about buying your property in Spain over the next 3-6 months, then it could be time for you to start looking into fixing a rate. If you need some advice about how to and why you should consider this action, call us today and we’ll be happy to help.

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Joanne, Your Place in Spain

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