Wednesday, August 27, 2008

French Property Bonanza!
Information for Buyers

Your piece of Heaven?

........ Or was it just out of reach because of the exchange rate?

Recent hunters of property in France may have noticed how strong the Pound sterling has become against the Euro.  I see February 8th's rate was quoted at 1.51 euros for each pound.  Now work this out:  your dream French property at 200,000 Euros at that rate of 1.5 - or at an exchange rate of 1.4 (which was the dominant rate through 2006),  how much  is the difference?  The answer is well over £9,000 - yes 9,000 pounds sterling!

So is it a good time to buy your euros in advance of buying your French Property?  Indubitably we all cry!  But do we take the necessary action?  Research shows that the vast majority of buyers of property in France leave this vital aspect until the last possible moment, by which time the pound may have fallen against the euro and our buyer is suddenly hopelessly out of pocket.

If you have decided you are going to buy a property in France, watch the exchange rate and buy your euros in advance at an advantageous rate.  With all the currency dealers scrambling for business there is plenty of choice of who to make the transaction for you, then you will be ready and with an an advantage over all the other buyers looking for your dream property!