Property prices

[dagwood]

I didn`t drag it down I pointed out a glaring stupid mistake. An eight year old child would see it. Too complicated for Viva.

[ashworth]

I am guessing he means that 15 years ago a â,¬150,000 property would have cost £100,000 and if you sold it now for â,¬150,000 it would equate to approx £135,000 (at 1.11 euro to pound). Therefore a gross profit.

True about the benefits of a weak pound over the last 15 years but what will the exchange rate be in 10 years time? who knows. It also cost 10% to buy and 10% to sell so your property has to go up in value 20% before you make anything.

[raye]

It is a fact that buying and selling costs are high, but i did state "gross profit". Also it depends on whether you are buying to try and make a profit or whether you are buying to be able to live/holiday on a fantastic Island relatively cheaply.

[Charlie dont surf]

Fuerteventura isn't a place you would speculate in property. You'd be backing a losing horse. Prices are a lot lower than say, in neighbouring Lanzarote, but there's a very good reason for this.

[beachlife]

I am guessing he means that 15 years ago a â,¬150,000 property would have cost £100,000 and if you sold it now for â,¬150,000 it would equate to approx £135,000 (at 1.11 euro to pound). Therefore a gross profit.

True about the benefits of a weak pound over the last 15 years but what will the exchange rate be in 10 years time? who knows. It also cost 10% to buy and 10% to sell so your property has to go up in value 20% before you make anything.

Its true that no one knows what the exchange rate will be in the future. It could go up or down who knows what will happen to any currency. However, the statement originally was about people who had bought in the past, we do know what the exchange rate was then.

Also you are assuming that everyone sells using an agent where the costs are high on Fuerteventura. If you sell privately the costs are considerably cheaper. I have no thoughts of selling but anyone who has no need to realise the asset quickly can sell their property privately, in fact just this year I have had 2 friends who have done this.

[spitfire58]

I am guessing he means that 15 years ago a â,¬150,000 property would have cost £100,000 and if you sold it now for â,¬150,000 it would equate to approx £135,000 (at 1.11 euro to pound). Therefore a gross profit.

True about the benefits of a weak pound over the last 15 years but what will the exchange rate be in 10 years time? who knows. It also cost 10% to buy and 10% to sell so your property has to go up in value 20% before you make anything.

Its true that no one knows what the exchange rate will be in the future. It could go up or down who knows what will happen to any currency. However, the statement originally was about people who had bought in the past, we do know what the interest rate was then.

Also you are assuming that everyone sells using an agent where the costs are high on Fuerteventura. If you sell privately the costs are considerably cheaper. I have no thoughts of selling but anyone who has no need to realise the asset quickly can sell their property privately, in fact just this year I have had 2 friends who have done this.

I would agree with that beachlife. There are so many Facebook pages these days advertising is not really a problem. I have seen a few local houses done this way. Possibly also makes it easier for “private” negotiations with a prospective buyer when there is less oversight 😁😁

[dagwood]

If your thinking of selling you`d better do it soon because “word on the street”has it there will be loads of properties for sale and a buyers market when the brits leave with their tails between their legs.

[jill tie]

I don,t remember it hitting £1 = 1.50 Euro but it did early 2007.
So bored at work I found this

https://www.poundsterlinglive.com/bank-of-england-spot/historical-spot-exchange-rates/gbp/GBP-to-EUR-2007

[beachlife]

I don,t remember it hitting £1 = 1.50 Euro but it did early 2007.
So bored at work I found this

https://www.poundsterlinglive.com/bank-of-england-spot/historical-spot-exchange-rates/gbp/GBP-to-EUR-2007

I note those are mid rate prices for each day. I bought in cash in May 2005 and bought money for the sale in April with a currency dealer, told them to buy when the rate hit 1.5 euros to the pound.

So you are correct Jill if you are looking at the historical mean mid rates, but 1.5 was certainly available if you forward bought currency when it hit 1.5 euros to the pound. In fact my currency dealer at the time asked at the the time when it went higher than 1.5 did I want to buy more.

While on the site you posted the mid range in March/April 2004 are in the 1.5 range or above.

[Grampiangranny]

Only 3 years ago (July 2015) we bought a secondhand car in Gran Canaria,  using Transferwise to carry out the transaction......

All done! The money should arrive by Jul 21
The rate was 1 GBP = 1.4388 EUR, and the fee charged was £17.41.
We have also notified your recipient via email x*****wnna***@aol.com

[ashworth]

£1 got you 1.71Euro in April 2000. I remember getting £1 for 1.62 for a deposit in 2002

[ashworth]

Only 3 years ago (July 2015) we bought a secondhand car in Gran Canaria,  using Transferwise to carry out the transaction......

All done! The money should arrive by Jul 21
The rate was 1 GBP = 1.4388 EUR, and the fee charged was £17.41.
We have also notified your recipient via email x*****wnna***@aol.com

I remember getting £1 = 1.44 Euro out of the Sol bank cash machine in Nov 2015. Since then it has gone weaker and since the Brexit vote it has tanked as well as against the Doller. Hence high petrol prices.

[ashworth]

If your thinking of selling you`d better do it soon because “word on the street”has it there will be loads of properties for sale and a buyers market when the brits leave with their tails between their legs.

Not sure where you get that from. The latest development of 48 completed villas on the Golf course all sold and the next development of villas and apartments being built are selling well. Prices are less than 10 years ago and are a much better quality of building.

[ashworth]

I am guessing he means that 15 years ago a â,¬150,000 property would have cost £100,000 and if you sold it now for â,¬150,000 it would equate to approx £135,000 (at 1.11 euro to pound). Therefore a gross profit.

True about the benefits of a weak pound over the last 15 years but what will the exchange rate be in 10 years time? who knows. It also cost 10% to buy and 10% to sell so your property has to go up in value 20% before you make anything.

Its true that no one knows what the exchange rate will be in the future. It could go up or down who knows what will happen to any currency. However, the statement originally was about people who had bought in the past, we do know what the interest rate was then.

Also you are assuming that everyone sells using an agent where the costs are high on Fuerteventura. If you sell privately the costs are considerably cheaper. I have no thoughts of selling but anyone who has no need to realise the asset quickly can sell their property privately, in fact just this year I have had 2 friends who have done this.

I would agree with that beachlife. There are so many Facebook pages these days advertising is not really a problem. I have seen a few local houses done this way. Possibly also makes it easier for “private” negotiations with a prospective buyer when there is less oversight 😁😁

Been there tried that. It can end up a disaster.

[VadimCr]

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[ElliotM]

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[Johnrgby2]

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[ElliotM]

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[Elite of the forum]

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[admin]

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[VadimCr]

There is a couple of services that might be useful for you, a lot of data enrichment companies that could help you with gathering useful info about companies you might need.

Okay, share it here if you can

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