Nerja property falls in price, thanks to favourable exchange rate

25.02.2016

Do you intend to buy a property in Nerja in 2016? Then great news! Whether you’ve got your eye on a 2-bedroom apartment in Torrox with a great view, or a 3-bedroom villa in Nerja with a swimming pool, it’s now more affordable, because the pound to euro exchange rate has strengthened. To be specific, sterling recently hit 1.29 against the common currency, +9 cents higher than 2 years ago.

So, what this means for you is that, when you transfer from the UK to your Spanish bank account to buy a Nerja property, you’ll receive far more euros. For instance, were you to transfer £1,000,000 to buy a luxury villa in Frigiliana with 5 bedrooms, you’d now receive €1,290,000, a full +€90,000 than if you’d bought the same property in January 2014, when the exchange rate was less favourable.

Now, just think what you could do with an extra €90,000 in your Spanish bank account! For instance, you could pay off the real estate fees and legal costs of buying your property in Nerja. Alternatively, you could buy a more luxurious property than you’d originally had in mind, with an extra bedroom or a swimming pool. Equally, you could decorate your new property to your taste also.

With all this in mind, it’s the ideal time to buy a property in Nerja, thanks to the strong pound to euro exchange rate!

By Peter Lavelle at foreign exchange broker Pure FX http://www.purefx.co.uk