Though it isn’t good news for British holidaymakers in Europe, who get fewer euros in return for their pounds, the low current pound to euro conversion rate can be a blessing in disguise for those British homeowners on the Costa del Sol who wish to sell their property.
The onset of Brexit has seen some property owners in Spain and other European countries want to sell their homes and return their assets to the UK, while others continue to visit the region and buy property in areas such as Marbella, where they remain the largest single market in spite of Brexit.
Those who are used to dealing outside of trade and currency blocks, such as people who do business in Asia or own property in the US, are certainly not put off by situations such as these, but some of the older homeowners abroad are now ready to come home, and for them the low pound is good news.
More pounds for your euro
You see, the low pound to euro rate means that, when you sell your property in Spain, the higher value of the euro means you return to the UK with more pounds. Several years ago, a property sold at 1 million euros would have given you under 700,000 pounds sterling, but today you would return with almost 900,000 pounds – almost 200,000 more!
The differences can therefore be staggering, and they also make it possible to be a little flexible with the asking price, and be more competitive than the next vendor, while still netting more pounds in return.
There is a silver lining to every situation, and for those British homeowners looking to sell, now is a perfect time – so contact us and get your Marbella or Sotogrande property sold quickly and efficiently through a trusted British real estate brand.