Euro/Pound Rate - drop prices?

[TheTravelBug]

With the pound having fallen steeply against the Euro (compare 1.45 E to the pound last year to around 1.2 to the pound now), properties with prices quoted in Euros are now much more expensive for British people buying.

For example a house costing 50,000 Euros last year was around 35,000 pounds. Now the same house, still at 50,000 Euros costs 41,600 pounds. Quite a difference!

If you are selling your property and taking the money back to the UK, then consider dropping the price in Euros as you will still be taking a similar, if not higher amount in pounds.

Rachel

[TheTravelBug]

Please see an article I have written about this at internationalpropertyinvestment.com/with-property-prices-down-can-you-still-profit

[pete]

Nice read

I think the issue is not if you want to sell, more can you find a buyer

The housing market is stagnant throughout Europe, I imagine this will be the case until mid 2011, when it will slowly start to pick up. I will imagine it will take this long for the banking sector to dispose of their toxic assets.

The problem in Bulgaria is too many people purchased for a short term financial investment, these will be locked in for at least 10 years, mainly due to supply and demand issues.

I purchased a property on the Golf Club Ibar complex, with no intentions of selling it, I am happy with the money I paid for the villa.

[TheTravelBug]

True buyers are harder to find nowadays but sellers also need to ensure houses are priced to sell. If you are intending to convert the money back into pounds you can afford to drop your prices by a fair amount and still not make a loss. It is impossible to say when the property market anywhere will pick up. But people trying to sell apartments along the coast and in Bansko will definitely find it very hard to sell anytime soon.