Smart strategies for expats to save money when buying or selling property in Spain
Are you an expatriate eyeing your dream property in Granada? Or, perhaps you’re planning to repatriate the proceeds from selling your second home in Costa del Sol. Either way you will want to consider how you will be transferring your funds to or from Spain, and the way you go about this can significantly impact your returns. But what is the most cost-effective way of moving your money?
Navigating currency volatility
When dealing with property transactions in Spain, the currency market plays a crucial role in determining the value of your transfers. To maximise your returns, timing your transaction to align with favourable GBP/EUR exchange rates is key. A weaker euro benefits those purchasing property in Spain, while a stronger euro favours sellers repatriating funds. Even small fluctuations in exchange rates can translate to substantial differences, potentially saving thousands on large transfers. For instance, in 2023, the GBP/EUR rate fluctuated between €1.11 and €1.17. This would amount to a difference of €18,000 on a £300,000 transfer.
Opting for a currency specialist over traditional banks
How Currencies Direct can assist
About Currencies Direct
Currencies Direct have been helping individuals and businesses save time and money since 1996 with excellent exchange rates and no transfer fees. With a team of over 550 currency experts and 20+ branches across Spain, Currencies Direct are never far away when you need them. They’ll keep you up to date with the latest market movements so you can pick the right time to move your money. They also offer a range of specialist services that can be tailored to your individual requirements. If you have a currency requirement coming up, get a quote now to find out how much you could save.
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