Strong Pound Makes Foreign Property More Attractive For Brits

By Fiona Moore, for ExpatBriefing.com 10 February, 2015

The strength of the British pound against the euro has led to an increase in the number of Britons looking to buy property abroad.

Sterling recently reached a seven-year high against the euro, and one pound is currently worth EUR1.34. Figures compiled for Telegraph Money using Rightmove.com data show that favorable exchange rates mean that the number of British people looking to buy property in Spain and Ireland is up by 48 percent from January last year.

The research concluded that property in Ireland, Greece, Italy, and Portugal is currently undervalued and that buying in these countries could prove extremely lucrative for investors or those looking to emigrate.

The value of the euro has taken a hit from the uncertainty surrounding Greece's debt agreements with the EU and the impact of quantitative easing.

Tags: Investment | Real-estate | United Kingdom | Alternative Investment | Expats | Foreign Exchange (Forex) |

 





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