News
Portugal property prospects boosted by euro gains
Wednesday 07 May 2008
The strength of the euro in relation to the pound is making Portugal a more attractive location for property investment, it has been claimed.
According to Nick Fullerton, managing director of currency specialists FC Exchange, an increasing number of people looking to invest more than €750,000 (£591,000) are choosing Portugal rather than France as the euro gains in value.
"Property prices and the cost of living in the south of France are high and we have found that people are increasingly looking to get more for their money," he told About Property.
While the pound has gained slightly on the euro in recent weeks, the currency is still strong historically, Mr Fullerton said, and this status quo has been tipped to be maintained - meaning Portugal will continue to be an ideal property investment location.
"Even though this week has seen the euro at a five week low against sterling, overall the currency is still around ten per cent stronger than it was only five months ago against the pound," he confirmed.
"Experts are undecided whether sterling will bounce back to the same levels as before Christmas."
According to Nick Fullerton, managing director of currency specialists FC Exchange, an increasing number of people looking to invest more than €750,000 (£591,000) are choosing Portugal rather than France as the euro gains in value.
"Property prices and the cost of living in the south of France are high and we have found that people are increasingly looking to get more for their money," he told About Property.
While the pound has gained slightly on the euro in recent weeks, the currency is still strong historically, Mr Fullerton said, and this status quo has been tipped to be maintained - meaning Portugal will continue to be an ideal property investment location.
"Even though this week has seen the euro at a five week low against sterling, overall the currency is still around ten per cent stronger than it was only five months ago against the pound," he confirmed.
"Experts are undecided whether sterling will bounce back to the same levels as before Christmas."