Sterling hits 14-month high versus euro, cutting cost of properties in Nice

If you plan to buy a Nice property in 2014, it may interest you to learn that the pound has recently hit a 14-month high against the euro.
Sterling reached 1.2258 versus the common currency late last month, its highest since January 10th 2013, or almost 14 months.

By contrast, last March 12th the pound was as low as 1.1403, meaning it’s since gained +7.5% or 8 cents.
To put this into context for you, were you to transfer £125,000 to Nice to buy a property, you’d now receive +€10,688 more than last March 12th.

Sterling has gained, because the UK economy is forecast to grow more than any other major country in 2014, according to the Bank of England, at +3.4%.
The euro meanwhile has declined, because prices in the Eurozone have risen less than 1.0% for the last 4 months now, fueling fears of deflation.

So in brief then, properties in Nice are more affordable in 2014, thanks to the improving exchange rate.