Buying With Sterling Pounds In Portugal
For those with sterling to invest into property in Portugal then you would have realised that for the past 2 to 3 months there has been a consistent period of a strong sterling pound with a current high of 1.25%,
The increase of just 5 points on a property being sold at €200,000 could save about £7,000 less on the purchase. And at €500,000 could save you around £17,000 less.
However, their is bad news looming that the major currency exchange companies are indicating that this current “high” is a temporary one and by Christmas the rates will be back around 1.20€ to the pound, if not lower.
So with motivated sellers, asking prices at a low and now a strong pound this is certainly a great time to be spending your sterling pounds.
For more information about the current currency exchange rates register here http://www.algarveprop.com/buying-euros