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Buying a holiday home in albufeira
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tonisdad View Drop Down
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Originally posted by pyrman pyrman wrote:

No-one I know in any serious position thinks the pound will `rise` again ... the writing has been on the wall for some time ... we had the chance to join the euro at 1.65 when it came in, but ever since the european currency has come up trumps. Several years ago I said on this forum that it should be around 1.10 (proper value) ... but now we are out in cold that is untenable .. 1.00 would be good ..

Do they not really. Who are these people in serious positions? You must be a very very rich man with your great insight into currency fluctuations. I mean it only took about 5 years to get down to your predicted 1.10 last time you said it and that was due to one thing Brexit.
As I said my input for what it is worth.....
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tonisdad View Drop Down
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Originally posted by Richardk Richardk wrote:

Decent property will always hold its value at the minimum ( ok might dip short term) but more likely go up so if you have funds to buy and see something you like buy it.
Its rarely best to delay because as you do delay it becomes I wish I had done it
Life is too short for 'if only I had done it'

In the 2008 financial crisis house prices on average fell 20% . If things continue as they are with this virus we could hit the biggest recession in history all over Europe.
We are living in unprecedented times nobody has a glass ball.
As I said my opinion for what it`s worth.....
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Jock View Drop Down
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Points: 1331 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Jock Quote  Post ReplyReply Direct Link To This Post Posted: 09/August/2020 at 16:26
I heard of a gypsy born with a glass eye.  I seems his father had a crystal ball.
It is no coincidence that in no known language does the phrase 'As pretty as an Airport' appear. Douglas Adams
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cubsur View Drop Down
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My spies reported a couple of weeks ago that the new block of 30 or so apartments opposite me has been completely sold. Certainly the sales board has gone. I wonder who has bought them at the thick end of €200,000 for a T1? Maybe some big investor who will get his money back by renting them to tourists at some fantastic price per week.

Good decision or what?

With the poor exchange rate of £ to € affecting potential British buyers, along with the current uncertainties about life, the universe and everything, who will be bold enough to reduce their prices to get rid of a property they no longer want? Reducing price to get a sale has never been a Portuguese thing. And who, especially British, would be bold enough to buy at this time?
Albufeira Resident

www.algarvebus.info public transport information for the Algarve
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tonisdad View Drop Down
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Originally posted by cubsur cubsur wrote:

who will be bold enough to reduce their prices to get rid of a property they no longer want? Reducing price to get a sale has never been a Portuguese thing. 


Maybe not a case of no longer want. It maybe a case of can no longer afford.  The thing is it might not be their choice to reduce the price if they are mortgaged to the hilt be they Portuguese French British or any other nationality. And so starts the domino effect.
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pyrman View Drop Down
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Points: 1133 		Post Options Post Options   Thanks (0) Thanks(0)   Quote pyrman Quote  Post ReplyReply Direct Link To This Post Posted: 10/August/2020 at 13:51
Albufeira will be back, just as it was before .. most people have confidence in that (if not in the poor old out-of-date pound sterling) ... it will also grow ... and buy to let is still a very good option here .. 

As for the euro rate to pound, Tonisdad ... you are wrong again. Here is the historical chart, starting as I said at 1.65 euros ... pound was lower than 1.10 well before the Brexit vote ... but
of course did not take part in the `euro crisis` support of many smaller nations, plus Italy .. giving sterling a `boost` in the interim period .. here is your homework ..
Pyrman
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Gazza View Drop Down
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Pyrman,  Looking at the chart it tally's with the rates I was getting in 2002, 2004 and 2009. The chart will be showing the market rate and the tourist rate is always a few cents less. In 2002 Sept.......€1.52, chart says €1.58 and in 2004 Sept...... €1.43, chart says €1.47. In 2009 Sept €1.08, chart says €1.11. June 22nd 2016 it stood at €1.23.
 
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tonisdad View Drop Down
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Originally posted by pyrman pyrman wrote:


As for the euro rate to pound, Tonisdad ... you are wrong again. Here is the historical chart, starting as I said at 1.65 euros ... pound was lower than 1.10 well before the Brexit vote ... but
of course did not take part in the `euro crisis` support of many smaller nations, plus Italy .. giving sterling a `boost` in the interim period .. here is your homework ..

Trouble is that way before 2012 when you joined this forum so you can hardly have been spouting your predictions before then on here  if you remember it was mid 2013 you were giving your predictions. As I said it took about 4 years and Brexit before that came about.
So wrong again are you sure?
So how much did you make then with you wonderful insight into currency exchange rates? One thing for certain if I thought the pound was way out of sync at 1.65, as you imply you did, I would have been buying hand over fist. 
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tonisdad View Drop Down
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Originally posted by Gazza Gazza wrote:

Pyrman,  Looking at the chart it tally's with the rates I was getting in 2002, 2004 and 2009. The chart will be showing the market rate and the tourist rate is always a few cents less. In 2002 Sept.......€1.52, chart says €1.58 and in 2004 Sept...... €1.43, chart says €1.47. In 2009 Sept €1.08, chart says €1.11. June 22nd 2016 it stood at €1.23.
 

You buy euros a few cents less than the official rate, really I did not think anybody still did that.
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tonisdad View Drop Down
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Couple more of the Albufeira.com closed shop gang of 8 to come along yet and have a pop at somebody for having the audacity to have a different opinion. LOLLOLLOL.
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I bought right at the top of the market,in 2008,a few months later,I had lost a lot of money.My house has still not recovered,but time will tell.I would just like to get there,& use it.For those who make fortunes on the FX market,a mate of mine bought around the same time,I got 1.46,he got high 120's,iirc,& he was a city broker,retired at 40!IMHO,the only ones that know,are the ones that dictate the figures,like George Soros.
He Who Dies With The Most Toys Wins
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Jock View Drop Down
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It's a pretty good guess that there is a recession coming for us all.  I can't see what's to prevent it.  Maybe not for China who, having given us the virus, is now selling us the gloves and masks to deal with it.  A neat little circle.
It is no coincidence that in no known language does the phrase 'As pretty as an Airport' appear. Douglas Adams
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Gazza View Drop Down
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730,000 people in the UK have lost their jobs since March, figures just released.
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Andrew View Drop Down
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And another 2500 from Debenhams,just released. 
Andrew
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Richardk View Drop Down
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A friend out here is looking to upgrade and has been told by several agents that demand is high from French and Italian buyers so pound/euro exchange rate is irrelevant to them and as a result prices are holding/rising. Whilst there is uncertainty  not everyone has been financially  mauled by the crisis and will continue to buy.
We can all look back and use hindsight to see what did/didnt work for them but the fact remains if you wait for everything to be perfect it will be too late and the market will have moved on without you
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