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Great time to buy in Abruzzo as pound hits 17-month high

Inviato da il in Taxes in Italy

On 29-05-2014

 Great news if you're a Brit planning to buy a rural property in Abruzzo! It's now much more affordable to do so, because the pound recently its highest versus the euro in 17 months. To be specific, sterling reached 1.1371 against the common currency earlier this week, its highest since December 12th 2012.

What does this mean if you're buying a rural property in Abruzzo?

If you're buying a rural property in Abruzzo, this means you'll now receive a far higher euro total when you transfer your money to Italy to buy the property. In fact, if you transfer £250,000, you'll receive €25,050 more now than if you'd done so on March 12th 2013, when the pound was at 1.1371. So, this puts an Abruzzo rural property closer within reach!

Will the pound continue to rise against the euro?

It could! This is because, first, the UK economy is roaring back to life. For instance, food sales in the UK rose by their most since January 2002 last month. Moreover, the Bank of England is set to hike interest rates before any other major central bank. So that could boost the pound further!

How can you get the best exchange rate when you buy a rural property in Abruzzo?

1. The biggest thing you can do is to compare the exchange rate you're offered. This is because a specialist currency dealer will offer you an exchange rate up to 4% better than your bank. If you're transferring a lot of money to Italy to buy a property, that can add thousands to your euro total!

2. If you like the current exchange rate, but don't yet want to transfer your money to Italy, you can 'lock in' the exchange rate with what's called a 'forward contract.' What this means is, even if the exchange rate falls in future, you can still get today's good exchange rate; you're protected.

3. To get a great exchange rate, it's also a good idea not to leave transferring your money to Italy to the last minute. This is because, if you do so, you'll have no choice but to accept the exchange rate that's available. Instead, if you start looking early, you've more time to get a good exchange rate!

So in short, 2014 is looking like a great time to buy a property in Abruzzo with Abruzzo Rural Property, as sterling rises versus the euro!

About the author

Peter Lavelle is a currency dealer at foreign exchange broker Pure FX. To get free currency advice for when you buy a rural property in Abruzzo, call him on +44 (0) 1494 671800 or email info.abruzzoruralproperty.com. He'll be happy to help.

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