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 1.05 euros to the pound. It is thought that the higher rates were an extreme and current rates are around 1.25 euros to the pound. For up to date exchange rates visit www.fx-foreignexchange.com
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 to make their property more attractive.
Visit here for properties for sale in pounds sterling…
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