Talk Quesada forum

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?

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.

I really do not but if that is your view I have a judgement to make !

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!!!

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€.

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.

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.

its about time the Brits integrated with the Spanish

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.

Brexit caused the pound to drop, simple as that. It may drop further, who knows.