The exchange rate is clearly in favour of property buyers with sterling and dollars, but is the property market in Europe in their favour? In other words are property prices stable, falling or increasing. The short answer is: location, location, location.
Back in 2014, a buyer with £250,000 who wished to buy a property in euros would have had a budget of about €300,000. At today’s currency exchange rate, with the weak euro, that same buyer can afford to purchase a property in the Eurozone up to €325,000… €25,000 more…that’s a lot more house, villa or apartment or extra budget for the removal, alterations and refurbishments .
The same situation is even more true today for buyers with dollars. Twelve months ago a buyer with dollars was purchasing euros at a rate of about 64 euro cents to the dollar. Today, the same person can buy euros at a rate of almost 86 euro cents to the dollar. So the property purchaser with US$250,000 in 2014 could have afforded a property in Europe valued at €160,000. Today the same buyer can purchase a property valued at just over €215,000! A whopping US$55,000 bigger budget.
Clearly now is a very good time for property buyers with dollars to buy euro property.
