Renting a holiday home in Provence more affordable, as pound climbs

Do you plan to rent a holiday home in Provence this year? If so, it may please you to know that renting in the Luberon is now more affordable, because the pound is shooting up against the euro. To be specific, just this week sterling hit its highest versus the Eurozone currency in 20 months, or since October 1st 2012, at 1.2563.

How does the strong pound affect you if you're renting a Provence property?

What this means if you're renting a holiday home in Provence is that you can expect a far higher euro total when you exchange currencies. For instance, were you to exchange £1,250 to rent in the Luberon, you'd now receive +€150 more than if you'd done so when the pound was at its weakest, at 1.1371, last March. So, this could help you splash out for a more lavish Provence property, or do any number of things with the extra cash!

Why is the pound climbing against the euro, and will sterling rise further?

Sterling is climbing against the euro, because the Bank of England is bringing forward the date when it intends to raise interest rates in the UK. Whereas the central bank had previously suggested it planned to do so in Spring 2015, it could now lift interest rates before the end of this year. This has lifted the pound, because it tells us the UK economy is booming! Moreover, this also means sterling could rise even higher!

Hence, 2014 is shaping up to be a great time to rent a property in Provence, as the rising pound cuts the cost of doing so.

About the author

Peter Lavelle is a currency dealer at foreign exchange broker Pure FX

For free expert currency advice when you rent a property in Provence, call him on +44 (0) 1494 671800 or email peter.lavelle@purefx.co.uk

He'll be glad to help.

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We have two spare tickets for next Sundays Heineken Cup in Marseille bought in error. Toulon v Munster. Cost €75 each in the "Ganay" stand. No reasonable offer refused. If you would like them please get in touch or let any other rugby fans know. 

Many thanks.