If you are looking to purchase a property in Portugal then you will be aware that the majority of properties for sale here are priced in euros. Therefore, in order to make a purchase you will need to exchange your sterling funds for euros. The rate of exchange has fluctuated quite a lot within the last year with rates varying from highs of around 1.5 euros to the pound and lows of around 1.25 euros to the pound. It is thought that the higher rates were an extreme and current rates are around 1.3 euros to the pound.
If you would like to purchase a property in Portugal and are concerned about fluctuating rates then it is possible to purchase a property in
pounds sterling and avoid having to exchange monies into euros. There are a number of property owners in the Algarve who set their property prices in sterling and are happy to recieve payment in this currency.
For details of a selection of properties priced for sale in pounds sterling, please click the link below.
There are also property owners who will accept euros or sterling and have reduced their sterling price substantially to attract potential buyers from the UK.
The first such property is a fantastic 2 bedroom townhouse on a small condominium with just 12 houses and a large communal swimming pool. The house is located in the area of Vale Formoso which is less than a 10 minute drive from the popular beach resorts of Vale do Lobo and Quinta do Lago. The house benefits from air conditioning, underfloor heating and is being sold fully furnished. The asking price is 345,000 euros which at a rate of 1.3 is the equivalent of approximately 265,000 pounds sterling. However- the owner will also accept 250,000 sterling for the property thus a saving of 15,000 pounds sterling.
Click here for further details and pictures
Another great value property currently available for sale in pounds sterling is this spacious 4 bedroom detached villa close to Almancil just a 15 minutes drive from Faro airport.The villa is set on a plot of 1000m2 with around 300m2 build size making it a comfortable property for either permanent living or for a holiday home. The single storey property has air conditioning,
double glazing, underfloor heating, alarm system and a heated swimming pool. The property is being sold for 725,000 euros which equates to approximately 557,000 sterling. The owner is also prepared to accept 500,000 sterling hence a saving of 57,000 pounds.
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