Whether you’re buying or selling, the European property market is picking up and a currency specialist can help

Whether you’re buying or selling, the European property market is picking up and a currency specialist can help

Whether you’re buying or selling, the European property market is picking up and a currency specialist can help

  • Posted by : Moneycorp

Whether you’re buying or selling, the European property market is picking up and a currency specialist can help
Whether you’re planning to sell a property in Europe or still looking to invest despite the pandemic, you will be pleased to know that Europe is reopening for business. Demand in Spain and Italy dropped particularly dramatically as the countries emerged early on as the hardest-hit by the virus in comparison to the rest of Europe. The drop in tourism across Europe meant a fall in prices across the continent, but demand is starting to return as property buyers book viewing trips for the autumn. 

Counting the cost of Overseas properties 
There are many financial aspects to understand within the international property market. Legal fees and property taxes add to the cost of purchasing or selling a property, as well as the ongoing costs of taxes and maintenance. Also, if you buy a managed property, you may have management fees to pay.

Understanding the process overseas
The house buying and selling process varies from country to country. Understanding what funds you will need and when can be very useful; some countries require immediate holding deposits and specific percentages of the property value for the overall deposit prior to settlement. 

Currency volatility and the value of the pound
Since the pandemic, the currency market has been particularly volatile amid the uncertainty. International payments can incur fees which add to the cost, with different providers offering various rates and fee structures, so make sure when you get quotes that you have the overall cost in sterling so you know the true value. 

A currency specialist can help with overseas property sales
A currency specialist can provide help with international payments, from market guidance to support on using a range of tools to manage the cost of currency transactions.  The service gives you access to competitive exchange rates and a range of tools for making international payments over the phone and via a secure online platform 24/7. In addition, there are no transfer fees, which means you can get more for your money.

 

Moneycorp is a trading name of TTT Moneycorp Limited which is authorised by the Financial Conduct Authority under the Payment Service Regulations 2017 (reference number 308919) for the provision of payment services.

https://www.expertvillas.com/exchangeCentre

In association with MoneyCorp
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