Where Can Sterling Take You Further?

Where Can Sterling Take You Further?

How to Get More Property for Your Money

Where Can Your Sterling Take You Further?

Many UK residents are feeling the pinch when it comes to the weak sterling versus the Euro and US Dollar. It is affecting not only their travel and lifestyle options but also their investment decisions and choice of real estate locations. 

But, all is not lost! We explore two countries for those who like their creature comforts, where the Sterling can still reign ‘pre-Brexit’ supreme!

 

SOUTH AFRICA

(Rand is at 17 to £1 , it was 11)

Cape Town is the Garden of Eden for Europeans and the cost of living has been spectacularly slashed by the weak rand. So, properties that were £500,000 have suddenly dropped to £250,000 owing to the strength of the British Pound.

Expatriates enjoy ‘reverse’ summers to our winter and find that  their monthly household/cost of living expenses rarely exceed 20,000-30,000 rand - that is about £1,100-1750.

So long  lunches accompanied by white wine on beautiful vineyard farms or luxury boutique hotels on stunning beaches are not an extravagance. The only issue is the high crime rate and the need for very vigilant security in some areas. But like anywhere, having someone to advise you who knows the areas well can help minimize your risk of exposure.

Beware that some of the best houses on the market have “adjusted” asking prices to take into account the current exchange rates. You need to have a very good negotiator to bring them back to reality. If this doesn’t work be prepared to walk away, they will soon come running after you!

 

RED SEA RIVIERA

(Egyptian pound is now 25 LE to £1 , it was 10)

The Red Sea enjoys one of the best climates in the world within five hours flight of the UK. It is one of the best kept secrets that Red Sea luxury lifestyles are a truly affordable option.

With low humidity, it is also a fantastic location for anyone suffering from arthritis, as the climate alleviates symptoms and it offers exceptional value for money.

The luxury private resorts of El Gouna and Soma Bay offer superlative accommodation, lifestyle and general living standards that fellow expatriates in Eurozone can only dream of.

The Egyptian pound was freely floated on the international market in late 2016, and it has meant that stunning properties from luxury developers priced in Egyptian Pounds could be purchased for 55% less in Sterling than just 6 months ago. Stunning contemporary designer three bedroom villas with pool and garden and situated on the beach with golf and sea views now start from just £155,000.

The big objection to Egypt has always been a fear about security. However, Egypt under President El-Sisi is locked tight. Personal crime, such theft and house break-ins so common in Spain and France, is minimal in Egypt. This is often overlooked when people talk about their concerns about going to Egypt.  Villas never need to be locked, car keys can be left in the ignition and you certainly do not need to live behind locked railings like many people have become used to in Andalucia.

Trump has made supporting Egypt one of his key Middle Eastern policies and the country has just doubled the size of Suez Canal and discovered one of largest natural gas fields, so it is by no means an economic ‘basket case’.  Egypt is in the . So the LE might well gain in value.

On the lifestyle front, petrol costs 17 pence per litre, a dinner out is around £11 per person and if you need staff to help you along the way, you will pay £120 per month. What more can one say?   Egypt is genuinely undervalued and with the warm emerald sea, clean waters, dolphins and tropical corals, it is seriously under appreciated.

Many people end up in Egypt on holiday and become so tempted by the climate, the luxury and the very affordable plus healthy living standards on offer, that they find themselves the proud owners of a new home and way of life that resembles that of 1920’s super rich in Britain.

 

What to Remember When Making Your Money Go Further Using Forex

  1. Don’t forget to tie in your exchange rate if you will make payments over a long period. There are several currency providers that can offer this service.
  2. Remember that currency moves quickly and so must you to get the deal locked in.
  3. Don’t let the strength of your currency alone be the determining factor in your investment, make sure you will be able to resell and upkeep your property.

 Want to find out more? Contact MEPM Director Edward Hill or call him on +44 7765 617 209

 

NOTE: Exchange rates do fluctuate. Rates quoted correct at the time of writing. 

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2 Bedroom Mangroovy Apartment in Beach Front Development

Mangroovy, El Gouna, Egypt

2Bedroom(s)
2Bathroom(s)
16Picture(s)
105.85
Visits:39

For sale in the prime beach front development of Mangroovy Residences a two bedroom apartment on the first floor. The apartment offers 105.85 m2 of living space plus loggias & balcony of 10.9m2

A masterpiece of nature-conscious architecture and luxury, Mangroovy is a lavish seafrontcommunity, blessed with El Gouna’s most desirable 360 meters of sandy beaches.

$224,740

3 Bedroom Mangroovy Apartment in Beach Front Development

Mangroovy, El Gouna, Egypt

3Bedroom(s)
3Bathroom(s)
16Picture(s)
171
Visits:35

For sale in the prime beach front development of Mangroovy Residences a three bedroom apartment on the top floor. The apartment offers 177 m2 of living space plus loggias & balcony of 33.53m2 as well as roof terraces of 88.5m2

A masterpiece of nature-conscious architecture and luxury, Mangroovy is a lavish seafrontcommunity, blessed with El Gouna’s most desirable 360 meters of sandy beaches.

$405,946

1 Bedroom Mangroovy Apartment in Beach Front Development

Mangroovy, El Gouna, Egypt

1Bedroom(s)
1Bathroom(s)
17Picture(s)
62.55
Visits:38

For sale in the prime beach front development of Mangroovy Residences a one bedroom apartment on the first floor.

A masterpiece of nature-conscious architecture and luxury, Mangroovy is a lavish seafrontcommunity, blessed with El Gouna’s most desirable 360 meters of sandy beaches.

$126,302

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