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US best value for money for overseas property

The pound to euro exchange rate has increased the most over the past six months, largely as a result of the on-going euro zone crisis. It is up 5.7%, giving buyers with a £125,000 budget €8,563 more to spend. This will particularly grant those looking in Cyprus and Portugal higher purchase power, as purchase taxes are comparatively low. Currently Costa Blanca, Spain, offers the most space for money in Europe.

James Yerkess, HSBC Head of FX, said: "There is a huge discrepancy in the size of property that UK buyers can purchase on the same budget in some of the most popular overseas locations for second homes. This is a combined result of foreign exchange rates, tax levels and the strength of the property market. Orlando, for example, offers excellent purchase power right now, but European destinations vary and aspiring buyers who are more flexible on location should weigh up their options to secure the most space and best facilities for their money."

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  1. Bob Head says:

    Whilst I agree with the sentiment that Florida offers British buyers an attractive market currently (Sept 2102), I would underline that prices are rising quite strongly and the inventory is diminishing. The exchange rate, while important, should not be the leading factor when considering buying property here…a 2% move from $1.600 to $1.632 will be insignificant if the value of property here rises 10%. Both are entirely possible.