European Property Now Far More Affordable Thanks to Rising Pound

Do you plan to buy a property in Europe, whether it be in France, Spain or Greece? If so, I'm pleased to tell you that European property is now far more affordable, thanks to the strong pound. For instance, just recently sterling hit 1.2867 against the euro, its strongest in 2 years, or since late July 2012.

When you buy a property in Europe, what this means for you is that you'll now get far more euros. For example, let's say you want to buy a villa in the Costa del Sol for £125,000. When you transfer that money to your Spanish bank account, you'll now get +€18,000 more than if you'd done so back in March 2013, 18 months ago, when the pound was a far lower 1.1371.

So, with an extra +€18,000 sitting in your bank account in Europe, you could buy a better property, install a swimming pool, or just enjoy a very large saving! In any case, you'll have far more euros. Given that, it's an outstanding time to buy a property in Europe, thanks to the strong pound!

By Peter Lavelle at foreign exchange broker Pure FX. To find out when the pound hits a fresh record high versus the euro, sign-up to Pure FX's free newsletter.