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.

Joanne, Your Place in Spain