euro rates euro sterling exchange rate fx rates property for sale in spain sterling rate against the euro a
Sterling has risen to a nineteen month high against the euro. The euro sterling exchange rate passed through the critical barrier of 1.20 earlier today, the highest point it has reached since the gloomy days of December 2008 when sterling was at near-parity to the euro, trading at a rate of 1.02This is an important day for the Spanish property market, as Brits have traditionally made up the single largest group of overseas buyers. Many prospective British buyers had been delaying investing in property in Spain until sterling improved, with many hanging on for rates of 1.20 and 1.25. Now that the rate of 1.20 has been breached, perhaps this will add to the recent stimulus in interest in the Spanish property market?
In simple terms, this all means that a property that has been on the market for €200,000 is now just under €30,000 (sterling) cheaper than it would have been in December 2008 at the same price. That´s a big saving in anyone´s language. Long may it continue….although it seems my cheap holidays to London may be coming to and end!!
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