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House Price Bonus ?

House Price Bonus ?

Old Jan 13th 2008, 10:14 am
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Default House Price Bonus ?

I know this is mainly hypothetical unless you are selling or able to release equity , but over the last few months the exchange rate movement has meant that for every 100000 euros your property is worth or you have sitting in the bank ! , you have gained approx £7000 , the euro being at its strongest against sterling ever .

Should this trend continue it would soften any house price falls , also means thou you will have to sell to someone other than English ?

If you are selling might be worth looking at some sort of incentive to get the deal done sooner rather than later !
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Old Jan 13th 2008, 10:20 am
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Default Re: House Price Bonus ?

It s been like that since the Euro was introduced.

when you need to send money and convert to the Euro, there are specialised companies able to transfer your funds at the optimium time to achieve a high rate of exchange.

In sept last year you`d have got 150,000 Euros for your £100,000 pound.

why do you think so many have moved to Spain, the property was cheaper and you`d get more for less money.

Also alot of retired people are getting there UK pensions transfered to Spain, which increases the amount they`d have compared to the UK, thats why people like Mitzy could afford to retire and live in Spain.
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Old Jan 13th 2008, 11:00 am
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Default Re: House Price Bonus ?

My pension is due soon. Is it better to have it sent over here in Euros or in Stirling? I have a Stirling accout here in Spain and can change money when I need to.

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Old Jan 13th 2008, 11:12 am
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Default Re: House Price Bonus ?

No, i'm talking about sending money from spain to england !



Originally Posted by lee8 View Post
It s been like that since the Euro was introduced.

when you need to send money and convert to the Euro, there are specialised companies able to transfer your funds at the optimium time to achieve a high rate of exchange.

In sept last year you`d have got 150,000 Euros for your £100,000 pound.

why do you think so many have moved to Spain, the property was cheaper and you`d get more for less money.

Also alot of retired people are getting there UK pensions transfered to Spain, which increases the amount they`d have compared to the UK, thats why people like Mitzy could afford to retire and live in Spain.
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Old Jan 13th 2008, 11:38 am
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Default Re: House Price Bonus ?

Originally Posted by Mourinho View Post
I know this is mainly hypothetical unless you are selling or able to release equity , but over the last few months the exchange rate movement has meant that for every 100000 euros your property is worth or you have sitting in the bank ! , you have gained approx £7000 , the euro being at its strongest against sterling ever .

Should this trend continue it would soften any house price falls , also means thou you will have to sell to someone other than English ?

If you are selling might be worth looking at some sort of incentive to get the deal done sooner rather than later !
Hi Mourinho, I agree... sadly many people still just don't understand what the situation is here, even many locals, they still beleive they can get elevated prices for their property, there have been a few discussions here on this.

I have been trying to tell people who have property for sale that they really need to drop the price, many of them just look at you or say... but so and so sold for xxxxxxx ! They just don't understand the various variables involved here.

If no one understands the glutton of properties on the market just drive around the urbanisations of Mijas Costa and I am sure other areas of the coast. It's not just amount of lower market properties like apartments... but properties from every price category for sale, in their thousands, it really is hard to describe unless you actually see it.

Sadly a lot of people are going to loose out here, but on the other side of the coin it will hopefully knock prices back into reality.

Last edited by Econ; Jan 13th 2008 at 1:24 pm.
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Old Jan 13th 2008, 12:47 pm
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Default Re: House Price Bonus ?

Originally Posted by Mourinho View Post
No, i'm talking about sending money from spain to england !
Then you will lose money, the rate 0.75.

So your 100,000 euros is worth £75,497.36, so your worse of I`m afraid.

As for the effect this would have on house prices in Spain, it wouldn`t, the British get a better deal if the pound is strong against the Euro.

Spains property boom isn`t soley reliant on the Exchange rate.

Over production would, the stronger the Euro gets will probably make the house values stop decreasing as fast though.
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Old Jan 13th 2008, 12:53 pm
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Default Re: House Price Bonus ?

Originally Posted by Econ View Post

Sadly a lot of people are going to loose out here, but on the other side of the coin it will hopefully knock prices back into reality.
I was speaking to my OH yesterday, she had lunch with a friend from our daughters school, the kids are friends so we`ve got closer etc.

Anyway, she`s working for the Tax office in Malaga City, there panicking big time, to the point she`s goin into an Agent to sell (Hopefully) her apt and rent, before the drop hits.

There predicting high unemployment and heavy debt, due to many borrowing to much credit and relying on the low interest.

She`s an Economics graduate and said we`re better of being in the UK as they`ve been studying the UK for ideas to try to protect people, and so far the Spanish govt cannot afford to finance similar securities that are in place in the UK.

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Old Jan 13th 2008, 2:49 pm
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Default Re: House Price Bonus ?

No , 4 months ago i would of got £69000 for my 100000 euros , now i can get £76000 !!! you really dont understand the original point do you ?



Originally Posted by lee8 View Post
Then you will lose money, the rate 0.75.

So your 100,000 euros is worth £75,497.36, so your worse of I`m afraid.

As for the effect this would have on house prices in Spain, it wouldn`t, the British get a better deal if the pound is strong against the Euro.

Spains property boom isn`t soley reliant on the Exchange rate.

Over production would, the stronger the Euro gets will probably make the house values stop decreasing as fast though.
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Old Jan 13th 2008, 2:57 pm
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Default Re: House Price Bonus ?

Originally Posted by lee8 View Post
Also alot of retired people are getting there UK pensions transfered to Spain, which increases the amount they`d have compared to the UK, thats why people like Mitzy could afford to retire and live in Spain.
Sorry to say Lee I don't get a pension yet ... long way off
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Old Jan 13th 2008, 3:02 pm
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Default Re: House Price Bonus ?

[quote=lee8;5781187]Then you will lose money, the rate 0.75.

So your 100,000 euros is worth £75,497.36, so your worse of I`m afraid.

[quote]



You're a little confused I think mate.
I'm losing money bringing dosh from the UK to Spain

Not so long ago £5k would have got me €7400 ish
Right now it will only get me €6500!!


Now if I had €5000 euros to send to the UK then I would be making a few more quid now.

The ins and outs of currency exchange are a risky business. Not only are the interest rates in the UK dropping, but the r/ex is [email protected] as well.
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Old Jan 13th 2008, 3:10 pm
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Default Re: House Price Bonus ?

So does that mean anyone who is transfering a pension from UK and has it converted to euros will get less for their money?
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Old Jan 13th 2008, 4:45 pm
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Default Re: House Price Bonus ?

[QUOTE=Mitzyboy;5781501][quote=lee8;5781187]Then you will lose money, the rate 0.75.

So your 100,000 euros is worth £75,497.36, so your worse of I`m afraid.




You're a little confused I think mate.
I'm losing money bringing dosh from the UK to Spain

Not so long ago £5k would have got me €7400 ish
Right now it will only get me €6500!!
I was converting Euros to pound and quoted the current exchange rate.

0.75 cents to the pound.

If i was converting Euros to pounds 100,000 Euro`s is £75,497.00

If i was converting Pounds to Euros £100,000 is 136,000 euros.

Your worse of if your sending money to UK from Spain.

If you are sending money to Spain from the UK you are gaining 36 cents for every pound sent.

Mitzy i`m suprised you didn`t grasp that i wrote it plainly.

By the way it was aimed at the original poster who believed he was better off as the pound weakens aginst the Euro his Euros are now getting better returns compared to last year.

I also read that you manage to live on 8,000 Euros a year, which allowed you to retire in Spain, sorry i though you said this income was made up from your retirement fund, which you state allows you to drink G&Ts all day long.

Last edited by lee8; Jan 13th 2008 at 4:52 pm.
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Old Jan 13th 2008, 4:51 pm
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Default Re: House Price Bonus ?

Originally Posted by Mourinho View Post
No , 4 months ago i would of got £69000 for my 100000 euros , now i can get £76000 !!! you really dont understand the original point do you ?
Yes I do.

Your gaining because the pound is weaker to the Euro.Thats good for you to send to the UK.

I was comparing though the fact a brit gets 136,000 Euros for their 100,000 pounds and are therefore better off, but not as much as last year when they would have got 150,000 euros for there 100,000 pounds.At that time you would have got less for your money.

But for a person converting Euros back to pounds there loosing.

If i was to return my savings back to pounds tommorrow I loose money from the original transaction.

So i`ll be waiting for the pound to get weaker as the belts get tighter in 2008-09.

There for my original 80,000 will get back close to the 80,000 I first sent, hopefully as I`ve spent the Euros I gain in profit..
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Old Jan 13th 2008, 4:53 pm
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Default Re: House Price Bonus ?

Originally Posted by casa del sol View Post
So does that mean anyone who is transfering a pension from UK and has it converted to euros will get less for their money?
No for every £100 pound you get 136.00 Euros and thats better for you.

Many use that to fund there retirement.
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Old Jan 13th 2008, 4:57 pm
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Default Re: House Price Bonus ?

[QUOTE=Mitzyboy;5781501][I]
Originally Posted by lee8 View Post

Not so long ago £5k would have got me €7400 ish
Right now it will only get me €6500!!


Now if I had €5000 euros to send to the UK then I would be making a few more quid now.
(

5.000 euros is worth £3,774.86 at this moment in time.

but it still isn`t a good return compared to the opposite.

Bringing money to Spain gains more than removing it.
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