growth in sterling could benefit property buyers
News Posted On: 15 June 2009
Investors in property abroad could benefit from the recent rise in the value of sterling.
According to the National Institute of Economic and Social Research, the pound rose above €1.17 in trading last week, the highest level it has reached this year.
At the start of 2009, the euro and the pound were almost valued the same.
Figures from the body also indicated that the economy in the UK is starting to pick up again, which could mean that buyers of property in Portuguese regions such as Cascais could get more for their money.
After a period of weakness, those with sterling looking to buy in the eurozone could find that with property prices down, they are presented with a great opportunity to acquire a bargain property in Portugal.
This comes after the Irish Times asserted that property in Portugal might be particularly attractive to buyers because the climate is consistently warm.
It added that its relative proximity to Ireland and the UK could increase interest in purchasing holiday homes there.
Written by Jamie Arthur
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