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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