Finding a great deal for your dream apartment on the Cote d’Azur is now easier than it has been for years. Americans and other foreign countries outside of the Eurozone should keep their eyes peeled if they fancy landing a cheap second-home on the French Riviera, especially in the coming months as the euro hits its lowest value since March 2006. Americans could get hundreds of more euros for their dollars than they did just a year ago, according to industry professionals.
The euro-to-dollar exchange rate slumped to a mere 1.2 percent on Monday. This meant the value of one euro was about $1.1864, before recovering slightly to $1.1944. The euro’s fall was marked by an article in German newspaper Der Spiegel that claimed Berlin was ready for Greece to exit the eurozone if the populist Syriza party, who seek to renegotiate on the country’s reform programme, were to win the impending election.
Speaking with the Chicago Tribune Kit Juckes, a global strategist at French Bank Société Générale, said that he forecasts the euro to weaken to as little as $1.14 in 2015, a low last seen back in 2003.
In January 2014, the euro was worth around $1.37 at which time $1,000 would convert over to €730, whereas now it would convert to €840. If the rate reaches Juckes prediction it would reach a high of almost €880 !
Let’s put this into the context of purchasing a property in Nice.
In early 2014 a €500,000 apartment would have cost around $685,000. At the forecast low for 2015 it could cost as little as $570,000; an astonishing reduction of $115,000 !
If this has piqued your interest it is definitely a great time to make a visit to see what’s on offer. The International Business Times spoke with Dejan Bajic of Danny Travel, an agency that specializes in setting up trips from the U.S. to Europe, he predicts an increase in interest in Europe among Americans seeking to travel cheaper saying “Anything you spend there, anything connected to euros like hotels, cars, trains, they will all be cheaper,”.
If you’re interested in making a visit you can find listings for all our vacation rentals on www.nicepebbles.com
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