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Read about the real estate market in the Algarve, Lisbon and Portugal. As the leading estate agents on the Algarve and in Portugal we can help you find property for sale in Portugal and find a mortgage.

The exchange rate is flying, it’s time to start buying!!

The exchange rate is flying, it’s time to start buying!!

As the exchange rate rises it is becoming even cheaper to achieve your dream of your place in the sun! An article released today by Peter Lavelle at currency broker Pure FX explains it really well :

Portugal property falls in price, as sterling rises versus the euro

 

15.04.2014

 

As if there weren’t enough reasons to buy a property in Portugal (the sunny weather, the relaxed lifestyle, the low cost of living), here’s another! Buying a property in Portugal will now set you back roughly -€10,000 less than if you’d done so last March.

 

Why? Well, because the pound has hopped, skipped and jumped to 1.2258 versus the euro recently, miles higher than the 1.1371 it sank to in March 2013. In other words, sterling has climbed +7.8% these past 14 months, which as I say, will take roughly -€10,000 off the price of a Portugal property, when you transfer £125,000!

 

Why is the pound flexing its muscles now? Well, it’s because the UK economy has shaken off its financial crisis blues, and is presently expanding at the fastest clip in the industrialised world. That’s given sterling a rocket boost, which is all to the good if you’re buying a Portugal property – so take advantage!

 

By Peter Lavelle at currency broker Pure FX

To give you a practical example :-

 

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These beautiful 2 bedroomed apartments close to main resort of Albufeira are priced at €145,000. In March 2013 the price in pounds sterling for them would have been £125,280, whereas with todays exchange rate they would only cost you £118,320. That’s a saving of a whopping £6,960!!

This is the perfect time to purchase your retirement, investment or holiday property in the Algarve, so what are you waiting for? At Ideal Homes Portugal we can help you find the place of your dreams and make sure you get the very best exchange rate to save you as much as possible on your purchase price!

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