(YourDigitalWall Editorial):- Quarteira, Algarve Aug 18, 2022 (Issuewire.com) – Buying properties in Algarve has now become more affordable for American buyers as the dollar/euro exchange rate hit parity in 2022. The exchange rate has never been so profitable for Americans in the last 20 years. Buying a house in Portugal with Ideal Homes is now 15 percent cheaper for American buyers since July 2022, compared to the beginning of the year when the exchange rate was 12 percent cheaper or $1.18/1. On July 18th, the exchange rate was $1.01/1. The cost of property in Portugal has fallen from $565,000 to $505,000 since January.
Now American buyers can use their investment to buy better properties that were way above their budget before. The price of luxury 2-bed apartments at ‘Olivie’ in Portimão in the Western Algarve listed on Ideal Homes has fallen from 379,440, approximately $425,000 to $384,000 since January. American buyers will now be able to save nearly $41,000 when they buy the property in the Western Algarve. The price of another 3-bed apartment in the same area has fallen from $603,000 to $544,000 since January, allowing the American buyers to save $60,000.
Getting help from a currency expert is crucial when American buyers are making a currency transfer to Portugal. Ideal Homes has partnered with Moving Currency which helps clients to transfer their Dollars or Euros to and from Portugal. The expert currency exchange service helps overseas property-buyers exchange and transfer money and solves their issues as holiday home-owner or Portuguese residents.
The users will be able to save a lot on fees that banks charge for currency transfers. They will transfer the money safely and smoothly with Moving Currency. Considering the current strength of the Dollar, it is safe to buy Euros in advance. Moving Currency can arrange forward purchase of the Euros. That way they will pay the exchange rate of the day they have agreed on for a transfer in the future.
Ideal Homes is a trusted real estate agency in the Algarve, Portugal. Founded on 2012, it has been helping property buyers and sellers for more than 10 years. Find out more at https://www.idealhomesportugal.com/.
This article was originally published by IssueWire. Read the original article here.