For sellers

Euro: Pound value results in Bulgarian Property values being up by 10% since October 2011 for British owners.

06 February 13

The Euros has moved against the Pound by 5% in just the past few weeks and by as much as 10% since last September. In effect this means your Bulgarian property (if converting back into Pounds) is worth 10% more to you today than it was a few months ago. At last, some brighter news in an otherwise gloomy property market.


If considering selling any time in the near future, now will return you more than at any point since October 2011, why not use it to your advantage and claw back some of those losses on the property market from the currency market.


How long will it last? No one can be sure, but most opinions suggest that without a major event the Pound looks to stay weak against the Euro for a few months yet. Why so low? Thanks to a recovering Eurozone, a newly found stability for Greece and Spain, European Central Bank’s efforts and David Cameron’s recent questioning of the UK’s future within the EU, the pound has faltered and shows no signs of immediate recovery.


Of course a weak Pound means great news for Britain’s exporters, all of their products have suddenly become much more affordable to the rest of the world, British producers become more competitive, cheaper and more profitable to buy from. However, if you own a property abroad such as in Bulgaria where the currency is pegged to the Euro, you are on the other side of the coin as your investment is already in Euros, which will always be worth more in Pounds when the Pound is weak.

If you are in the process of selling or on the verge of closing a deal, why not fix your currency exchange rate now and take advantage and let the currency broker take the risk on it going the other way.