Join Talk Quesada

Welcome to Talk Quesada! My name's Alex and this is my website all about Ciudad Quesada in Spain. Talk Quesada is free to sign up and use so register below!

Pound at 8 month low against the Euro

Pound at 8 month low against the Euro

Postby maisiesdad » Sat Jul 22, 2017 10:35 am

The Guardian reports that £ v € has hit an 8 month low of £1.11 and that unscrupulous traders at some airports are offering the unwary just 88 cents to the £ with others parity.
Apparently foreign buyers here, not affected by the slump, are on the increase and there is some evidence that house prices are stabilizing and maybe rising slightly. However, I wonder how the dramatic fall of the £ since the Brexit vote will affect the number of Brits considering buying in the Eurozone now that properties there are considerably more expensive for them.
I have no wish to get into yet another toxic Brexit debate but what do others think?
User avatar
maisiesdad
 
Posts: 912
Images: 1
Joined: Sun Feb 22, 2015 12:54 pm
Which part of Spain are you from?: Dona Pepa
Gender: Male

Re: Pound at 8 month low against the Euro

Postby Jan » Sat Jul 22, 2017 10:52 am

But you do 'wish to get into yet another toxic Brexit debate' maisiesdad as you and your'friends' who join in always do, I'm afraid! That was why this topic was just removed and you repeated it.

It will be taken down again if it does.
Like us on Facebook to keep in touch: Facebook.com/TalkQuesada
User avatar
Jan
Site Admin
 
Posts: 11193
Images: 164
Joined: Mon Oct 17, 2011 8:34 pm
Which part of Spain are you from?: Lo Marabu Dona Pepa
Gender: Female

Re: Pound at 8 month low against the Euro

Postby maisiesdad » Sat Jul 22, 2017 11:27 am

I really do not but if that is your view I have a judgement to make !
User avatar
maisiesdad
 
Posts: 912
Images: 1
Joined: Sun Feb 22, 2015 12:54 pm
Which part of Spain are you from?: Dona Pepa
Gender: Male

Re: Pound at 8 month low against the Euro

Postby marcliff » Sat Jul 22, 2017 12:04 pm

On the original point, whilst us Brits have been the main buyers along this area, it would seem the Scandinavians are taking over. Most of these new flats going up have a lot of Scandinavian registered cars outside and, even on our complex, the different languages are taking over. Even at Lidl the other day English seemed to be in a minority.
Of course, exchange rates won't matter so much to them or other Europeans but the languishing pound will make a difference.
On the other hand, if you are selling then you will get a better exchange rate now even though properties haven't got up to the same level as 7 or 8 years ago.
If you bought for, say, 200,000 euro then you would have paid about £142,000 for it. You could now sell it for around 155,000 euro to get your money back in pounds.
Buying, though, you would have to look around carefully to find one at your price. Another example, a town house across the road was reduced to 130,000 last year which, for a Brit, would have been about 100,000 pounds. Now the same house for the same price would be about £118,000.
Those of us on UK based pensions or interest will be the ones losing out the most. A basic pension for a single person of £580 a month would have given you €812 back in the pre-banking crisis days, €764 just 18 months ago but only €630 now which is quite a big drop.
I also hear comments of how expensive it is getting in Spain. Well, yes, but that is mainly due to the exchange rate. We automatically convert prices to our own currency and by multiplying the figure by .7 some years ago (€7.30 was approx €5.10) but now have to do by .9 so the same goods at €7.30 is now £6.37. The prices haven't actually risen in euros but, to us, they have risen by £1.27.
Darn it, I'm even paying over a quid now for a bottle of wine!!!
User avatar
marcliff
 
Posts: 9694
Joined: Sat Mar 03, 2012 4:41 pm
Location: Doña Pepa 2
Which part of Spain are you from?: Dona Pepa 2
Gender: Male

Re: Pound at 8 month low against the Euro

Postby maisiesdad » Sat Jul 22, 2017 1:44 pm

:D
I fully agree about the changing complexion of the area and in some areas the move away from the predominant spoken language of English. Of the five neighbouring houses in our street we are the only British the others are Norwegian x 2, Netherlanders and Swiss. Its just as well that they all speak excellent English. We recently sold a townhouse on Dona Pepa for roughly the sort of money mentioned to a Southern Irish couple where obviously the exchange rate did come in to the equation.
I also agree about the fact that those whose income/pensions are UK generated are hardest hit. Although I don't find Spain more expensive than UK for most things I would dread having to rely on just a state pension to get by on. Have not had a bad bottle of rioja yet no matter how much it cost but still looking for one at 1.11€. :D
User avatar
maisiesdad
 
Posts: 912
Images: 1
Joined: Sun Feb 22, 2015 12:54 pm
Which part of Spain are you from?: Dona Pepa
Gender: Male

Re: Pound at 8 month low against the Euro

Postby scubydoo » Sat Jul 22, 2017 4:07 pm

:text-goodpost:
Jan wrote:But you do 'wish to get into yet another toxic Brexit debate' maisiesdad as you and your'friends' who join in always do, I'm afraid! That was why this topic was just removed and you repeated it.

It will be taken down again if it does.

:text-goodpost: :text-goodpost: :text-goodpost: :text-goodpost:
scubydoo
 
Posts: 3328
Images: 3
Joined: Sat Mar 01, 2014 4:10 pm
Which part of Spain are you from?: Benimar
Gender: Male

Re: Pound at 8 month low against the Euro

Postby maisiesdad » Sun Jul 23, 2017 7:25 am

I fully accept that in forum debate I have stated my objections to Brexit in pretty strong terms. However, my post above has nothing to do with my feelings on that, but rather the effect the falling pound will have on Brits buying in Spain. Thank you for your considered views marcliff-maybe just a wee bit over the top Rob. :text-lol:
User avatar
maisiesdad
 
Posts: 912
Images: 1
Joined: Sun Feb 22, 2015 12:54 pm
Which part of Spain are you from?: Dona Pepa
Gender: Male

Re: Pound at 8 month low against the Euro

Postby omarell » Sun Jul 23, 2017 8:34 am

its about time the Brits integrated with the Spanish
omarell
 
Posts: 217
Joined: Thu Apr 09, 2015 1:03 am
Which part of Spain are you from?: Lo Marabu
Gender: Male

Re: Pound at 8 month low against the Euro

Postby Roach » Sun Jul 23, 2017 12:21 pm

I'm not sure what integration has to do with the topic at hand but in hindsight i agree. However there are many reasons why some people choose not to. IMO most people (especially those of a older generation) do not have the confidence in learning the language. Others struggle to afford lessons as not every locality offers free lessons. Then others are plain lazy.

As for the euro rate. It's fairly common for it to be crap this time of year. It does seem to go down in the summer months just in time for peoples holiday and creeps up in August onwards (although not always). There are many factors having a negative effect on the rate and these include the buffoons handling the brexit negotiations. Seemingly after every negative press headline towards brexit, the rate 'tumbles'. Another factor is the ECB propping up the eurozone buying junk bonds and quantitative easing.

As it stands the pound is under valued and i would guess that the rate is bound to get better when changing £'s. When that will be is anybody's guess.
User avatar
Roach
 
Posts: 500
Joined: Mon May 08, 2017 10:38 am
Which part of Spain are you from?: San Miguel
Gender: Male

Re: Pound at 8 month low against the Euro

Postby valenciasman » Sun Jul 23, 2017 4:56 pm

Brexit caused the pound to drop, simple as that. It may drop further, who knows.
valenciasman
 
Posts: 547
Joined: Fri Nov 27, 2015 12:40 pm
Which part of Spain are you from?: villamartin
Gender: Male

Next






  • Similar Topics
    Replies
    Views
    Last post

Return to Quesada general discussion

 
 

Who is online

Users browsing this forum: Bing [Bot], Kingy0 and 21 guests

Login
Username:


Password:


Remember me


Forgot password?

Register now

Find in Quesada
What are you looking for in Quesada?: