How to make the strong pound work for you in Spain

The pound is stretching further in Spain than it has done for a long while… can you take advantage?

The pound sterling is at a seven-and-a-half year high against the euro, with £1 currently worth €1.42. For Brits travelling to any country in the Eurozone, it means they are a little flusher with cash than they would have been this time last year.

But savvy Brits looking to make their pound stretch further should look to Spain – a country where prices for property, flights, food and holidays were already competitive before the pound’s gain against the euro. Here are five ways to make the strong pound work for you when in Spain…

1. Property investment

Property in Spain is, on average, around 40% cheaper today than it was in 2007 during the height of the country’s real estate boom. In many parts of the Costa del Sol, however, prices have begun to rise by a couple of per cent a year in the past 24 months as the seeds of the recovery have taken root in the region.

For pound-rich Brits, this means that there has never been a better time to purchase an affordable, high quality home that is also likely to increase in value steadily over time. Priced in euros, and way below the over-inflated prices that characterise many parts of the UK property market, Spanish property is great value right now, and will not only secure you a wonderful home in the sun but could even prove an astute investment.

2. Eating out

Dining out in Spain is one of life’s simple, but most enjoyable, pleasures. Relaxed, welcoming, invariably elegant and always as affordable as you would like it to be, it is a great joy. With children always welcome, entire families can enjoy a memorable evening together even on a budget – and they can do so regularly, not just on special occasions.

Many parts of the Costa del Sol have an incredible selection of restaurants to suit all tastes and budgets, and Brits armed with a favourable exchange rate can get more bodega for their buck.

3. Flights

Flights to Spain at the very peak of summer are no longer the steal they once were. But if you are savvy enough to plan ahead, and to book in euros, you can sometimes secure for yourself an incredibly cheap deal.

If you own property in Spain but live in the UK then it pays to be prepared, to know when the cheaper weekends are, and to plan your trips away at least a couple of months in advance in order to take advantage of early booking discounts. With the euro still weak against the pound, it makes sense to strike while the iron is hot.

4. Grocery shopping

Visiting Spain doesn’t have to be a fortnight-long, all-inclusive affair. Many Brits either have a favoured holiday home or private rental that they return to time and time again, and right now such a strategy could prove the most cost-effective.

Groceries in Spain, typically far cheaper than those found in the UK, are currently even more affordable for Brits arriving with freshly exchanged euros-for-pounds. Where and when you shop is important, but with cheap flights, affordable accommodation and competitively priced supermarkets, visiting Spain has never been cheaper.

Who fancies a road trip to Granada?

5. Seeing the sights

There are loads of excellent museums, galleries and attractions dotted along the Costa del Sol and throughout the nearby cities that are well-worth a visit. And guess what? Their entrance fees are not pegged to the pound, meaning there has never been a better time to visit Granada’s Alhambra or Málaga’s Picasso museum.

What’s more, petrol is wonderfully more affordable as well, as are car rentals, making it even easier to get around Andalucía and see even more that this wonderful region has to offer.