Low value of the Euro offers opportunities

March 20, 2015

Last week saw an 8 year low of the euro against sterling,  people  had the opportunity to buy in excess of 1.4 euros for £1 sterling,  this not only offers Brits cheaper holidays in Europe but offers some amazing bargains in the European  property market. The big question is…. have we seen the Euro reach the bottom of its decline against sterling? There are some out there that think just that, Jim Mellon who is a major investor and is seen by some as the equivalent in Britain as Warren Buffet  in the USA, he is reported as saying “the euro has hit the bottom and now is the time for Brits to be buying abroad” Entrepreneur and investor Jim Mellon has reportedly amassed a fortune of £850m by making the right calls and identifying various key trends.

Late last year it was announced by British franchise agency Winkworth it would be opening an office in Guadalmina, near the well-known resort of Marbella in Spain, The office will be owned and operated by Bernard Vent, who is also a Winkworth director in London. Together with an experienced team from Spain, he intends to bring the established brand to Guadalmina, Marbella, Estepona, Sotogrande and the surrounding areas. Only last month an estate agency based in the largely ‘recession-free’ French region of Monaco announced its association with British agency Chestertons as part of its company’s international associate programme.

Is this a new dawn for the International Estate agents who have had a pretty rough time over the last few years mostly brought about by the austerity cuts introduced following the banking crisis. Spain, France and Switzerland rank highly in that order as buying destinations for European property. The International property businesses operating here in the UK and servicing overseas buyers is very much a major part of the overall property industry, it may well see good days ahead from here on.

 

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Letting Agent Talk

The pros and cons of renting to students: is it the right choice for you?

Student properties are no different in term of quality and facilities than any other type of private rental. And although landlords may have to spend a fair amount on setting up and properly maintaining student lets, they can also charge a good market rent. To help you decide whether letting to students might be worthwhile…
Read More →
Finance

Autumn Budget Misses Mark on Housing Reform: UK Rental Market Squeezed by Shortages and Rising Rents

The UK rental market faces mounting pressures, with a recent Rics survey revealing a critical shortage of properties and surging rent prices. Landlord instructions, a key indicator of properties available to rent, fell to a net balance of -29%, marking this the lowest level since 2021. Strong tenant demand is driving rents higher, with 33%…
Read More →
Estate Agent Talk

Save a house deposit faster than ever in THESE areas!

Save a house deposit faster than ever in THESE areas! Aberdeen City in Scotland is named the best place to live if you want to save for a house deposit fast, saving in as little as a year and a half Inverclyde is second, whilst Burnley is third Average salaries and house prices in each…
Read More →
Estate Agent Talk

Finding Your Dream Home: Expert Advice from Camberley’s Top Estate Agents

Finding the right estate agent is crucial when navigating the competitive housing market in Camberley. With local expertise and in-depth market knowledge, these professionals can guide you toward your ideal property, saving you time and effort. Their understanding of the area’s nuances, from property trends to community relationships, positions them as indispensable allies in your…
Read More →
Breaking News

Zoopla reveals most affordable towns in Britain

With the average home valued at nearly four times average household incomes, Zoopla reveals the most affordable towns in Britain   An average property in Britain is valued at 3.8 times the average annual household income (assuming 2 full-time workers) Cumnock in Scotland, is Britain’s most affordable town to buy in 2024 with average property…
Read More →
Software & Tech

The Evolving Nature of Real Estate and Strategies for Agency Success

Real estate agents are used to working with fluid market dynamics. Adapting their sales strategies and responding to new industry demands is almost second nature to most agencies today. However, while making the necessary adjustments when following housing market trends is important, it’s also important for agencies to consider new business innovations that become available…
Read More →