Latest News on Javea, Spanish Properties and Life in Spain
Do you intend to buy a property in Javea in 2016? Then great news! Whether you’ve got your eye on a 4-bedroom townhouse in Jesus Pobre for €198k, or 2-bedroom apartment in Javea for €163k, the exchange rate is on your side. To be specific, the pound has reached 1.29 versus the euro today, +9 cents higher than 2 years ago, meaning you’ll get more euros when you transfer money to Spain!
So, to illustrate this for you, let’s say you intend to transfer £212k from your UK bank account to Spain, to buy a 2-bedroom townhouse in Javea with a sea view. With the sum, you’d currently receive €273,480, or +€18,980 more than if you’d made the same transfer back in January 2014, when the pound to euro exchange rate was much weaker. Hence, this is a significant rise in your euro total!
After all, with an extra €18,980 in your Spanish bank account, thanks to this favourable exchange rate, you could do any number of things. For example, you might buy a more luxurious Javea property than you’d initially had in mind, with an extra bedroom, or a swimming pool, or more living space. Alternatively, you could use the money to explore Alicante, from the base of your new Javea property!
Moreover, the pound to euro exchange rate could continue to rise, further cutting the cost of buying a Javea property. The common currency could weaken, because the Eurozone returned to deflation in February, with prices falling –0.3%. This could weaken the euro, because deflation weakens economic activity, as people continually expect prices to fall, meaning that they delay buying things.
So, given all this, it’s a fantastic time to buy a Javea property, as the pound to euro exchange rate rises!
Written by Peter Lavelle at foreign exchange broker Pure FX.
purefx.co.uk
