Whether you are a retiring expat looking for prospective investment or a tourist planning a holiday trip to some of the most stunning scenic places in the Europe, a strong pound has several benefits for you. In the past, the euro has further weakened against the sterling due to the quantitative easing created to rescue several struggling European economies. All this has raised the pound to a seven-year high, improving the spending power of sterling buyers. This only creates better prospects for Britons who are looking to invest in or move to European cities. A positive sterling means that it can purchase more currency outside the Eurozone.
The current strength of the sterling has encouraged several British expats to consider the property market abroad and they are now taking notice of purchasing properties, which they had desired for years. It is estimated that about 48% or more Britons are looking for properties in Ireland and Spain for the last 12 months. However, British buyers can take into account several other promising locations such as Portugal where the property value has substantially increased by 4.9%.
Another attractive investment prospect is France where property prices have remained at low ever since the crisis of 2008 and with the current strength of the sterling allows British buyers to consider their dream home in France. This not only favours British buyers to look for properties in expensive and elite locations such as Bordeaux but also allows them the opportunity to buy more for their money. For instance, the price of one-bed flat in London can buy a 17-bedroom ancient stone chalet in the French Alps. This goes to show why more and more Britons are fleeing their native country for better job opportunities and improved quality of life, which all can be experienced by investing in such European cities.
Another thing to consider apart from the low property prices in France is that the property market is stable and calm right now, even though several UK buyers are becoming active with their investment dreams. Right now, it is the ideal time for UK buyers to plunge into the foreign property markets and make a winning gain. A great concern for several British expats is their accommodation in a different European city that is strange to them. But they no longer need to worry now because before packing up the entire home and moving, British expats can invest beforehand and live in their dream home which they had aspired for over several years.
The strong pound has allowed British buyers to embrace a brand new chapter of their lives as expats in France. This not only serves as an indicator for British buyers to convert their bank savings into better investment alternatives but also a sign that they can finally live their dream in reality. Along with property prices, the costs of living, education, leisure as well as occasional holiday trips all become affordable due to the strong pound.