Do you see yourself sipping sangria and basking in the Spanish sun at your very own Costa Blanca property? Are you dreaming of holding the keys to your stunning Iberian home, whether that's in Benidorm, Alicante, or Campello?.
If so, in addition to enjoying the sand, the surf, and Spain's famous relaxed lifestyle, there's now another reason to make your dream of owning a Costa Blanca home come true.
This reason is, the pound to euro interbank exchange rate has shot up +5.09% since late August last year, up to 1.1350 at the time of writing, from just 1.08 four months ago.
Costa Blanca property more affordable, as sterling rises
As a result, when you transfer money from the UK to your Spanish bank account, to buy the Altea, Finestrat or Albir property your heart desires, you'll now get a far higher euro total!
To put this into numbers, let's say that you intend to exchange £152,000 from pounds to euros, to buy a 2-bedroom seafront apartment in Alicante. At the current interbank exchange rate of 1.1350, you'd hence receive €172,520 in your bank account in Spain, up from €164,160 on August 29th 2017.
That's a gain of +€8,360 for you, so making Costa Blanca property even more amazing value!
Pound jumps, as UK unemployment set to fall further
Why is sterling flexing its muscles versus the Eurozone's common currency, thus significantly boosting your budget to buy a beautiful Costa Blanca property?
Well, it's because, just this week, Bank of England policymaker Michael Saunders forecast that UK unemployment would fall below 4% in 2018, even further below its current 4.3%, already the lowest since the mid-1970s.
What's more, Mr. Saunders added that the UK "economy and labour demand are likely to hold up" this year, and that UK interest rates "will need to rise further over time". So as the UK flourishes, sterling too!
Mediterranean Properties offers incredible range of properties in Winter
With this in mind, it's the ideal time to buy a fantastic Costa Blanca home, in particular because Mediterranean Properties has the best variety of properties now in Winter.
Whether you'd like to relax in a modern Benidorm apartment, with a sunny balcony and just 400m from Levante beach, or to unwind in a 4-bedroom Alicante home, with a spacious 112m open terrace, you'll find the property that fits you perfectly.
Furthermore, you'll find your ideal property at a more attractive price than ever before too, as the pound to euro interbank exchange rate has shot up since August last year!
by Peter Lavelle at foreign exchange broker Pure FX https://www.purefx.co.uk
+44 (0) 1494 671800