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Currency Exchange

Currency Exchange

When you intend to purchase a property, you need to make the most of your hard earned money to maximize the rate of exchange when you transfer your money abroad. Overlooking the dangers of the currency market can be a costly example as this example shows.

A property costing €250,000 purchased on the 8th February 2007 would have cost £165.000. However, the same €250,000 purchased on14th March 2007, just over one month later, would have cost £171,500 – a huge difference of £6,500.

Had the buyer contacted a specialist Currency Exchange company, they could have fixed the rate and could have saved themselves £6,500. Add to this the bank transfer fees, commission charges and possible receipt fees and you may find that your dream purchase has been pushed out of your reach.

Algarve Homes Lda. has been working for many years with an established, reputable currency exchange company who can provide you with the best advice