It’s a fantastic time to relocate to France! Why? Well, because the pound to euro exchange rate has risen dramatically in the past 2 years, greatly cutting the cost of settling down in Paris, Lyon, Nice or Cannes. To be specific, just this week sterling has touched 1.40 versus the Eurozone’s common currency, a full +20 cents higher than back in January 2014, 22 months ago.
What this means for you is that, when you exchange currencies or transfer money to your French bank account as part of the process of relocating to France, you’ll get far more Euros. How many? Well, let’s say you plan to buy a property in Paris, and transfer £250,000 to France. With that sum, you’d now get €350,000, a full +€50,000 more if you’d done so back in January 2014.
Hence, the favourable exchange rate is a significant helping hand for when you relocate to France! With an extra €50,000 available to you, you could pay for all sorts of things, like the legal and administrative costs associated with finding somewhere to live for instance, or just use the extra Euros to explore the Cote d’Azur, and enjoy new surroundings. It’s entirely up to you!
What’s more, looking ahead to 2016, there’s an excellent chance that sterling will jump further versus the euro, making relocating to France even more attractive. This is because, first, the UK economy looks set to be the fastest-growing major economy in the world for the 3rd year running this year, significantly lifting the pound. Meanwhile, the Eurozone looks stuck in the mud.
Hence, it’s the ideal time to relocate to France, as the strong exchange rate offers you a golden parachute!
By Peter Lavelle at foreign exchange broker Pure FX www.purefx.co.uk (03.11.2015)