2017 looks like an excellent year to buy a property in Barcelona!!

319. In this article, I’ll tell you why 2017 looks like an excellent year to buy a property in Barcelona, as the pound could strengthen versus the euro, cutting your costs.
 
Are you thinking of buying a property in Barcelona? In that case, whether you’d like to buy a €240,000 flat in Vilanova i la Geltrú next to the beach, or a €265,000 duplex in Barcelona near to the shops, you’ll want the best exchange rate. After all, if sterling is flying high versus the common currency, you’ll need to transfer fewer pounds to buy your ideal property in Barcelona!


 ​With this in mind, what’s set to happen to the pound to euro exchange rate in 2017, especially in light of the UK’s vote for Brexit? Well, let’s take a look, and how this could benefit you when you buy your Barcelona property.

The good news is that sterling could well strengthen versus the Eurozone’s common currency next year, above its current 1.1367. This is because, just last week, the UK’s High Court ruled that only Parliament has the authority to trigger Article 50, for the UK exit the EU.
 
This could lift the pound, and so make it cheaper for you to buy a Barcelona property, because this significantly lifts the odds of the UK pursuing a “soft” Brexit. After all, the UK’s MPs are likely to want the UK to stay in the Single Market, lifting the UK’s economic outlook for the coming years, and so sending the pound higher!
 
What’s more, the cost of buying a property in Barcelona could also fall next year, because the European Central Bank looks set to expand its extraordinary monetary stimulus, devaluing the euro.

 

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To be specific, the Eurozone’s central bank currently prints billions of euros every month, to spur inflation in the common bloc. Next month, the ECB could well extend this scheme to 2017, to lift inflation to its +2.0% target. Given that this involves printing such vast sums, this could drag down the value of the euro, thereby making property in Barcelona considerably less expensive for you to buy!
 
Lastly, the pound to euro exchange rate may also strengthen next year, cutting the cost of buying Barcelona property for you, if Marine Le Pen wins France’s 2017 Presidential election. Ms. Le Pen leads the National Front party, France’s equivalent to UKIP. Following Donald Trump’s recent win in the USA, it’s thought that support for populist politicians like Ms. Le Pen has risen worldwide.
 
With this in mind, were Le Pen to win France’s Presidential election, the euro would weaken substantially, thus making Barcelona property more affordable for you, whatever the property you have in mind!
 
Given all this, 2017 looks set to be an excellent time to buy Barcelona property. Be sure to make the most of it!

This has been a generous contribution by PUREFX
Article written By Peter Lavelle at foreign exchange broker
Pure FX http://www.purefx.co.uk

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