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Smart strategies for expats to save money when buying or selling property in Spain

Updated: Apr 8

A Money Matters guide brought to you by Currencies Direct

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Are you an expatriate eyeing your dream property in Granada? Or, perhaps you're planning to repatriate the proceeds from selling your second home in Costa del Sol. Either way you will want to consider how you will be transferring your funds to or from Spain, and the way you go about this can significantly impact your returns. But what is the most cost-effective way of moving your money?


Navigating currency volatility

When dealing with property transactions in Spain, the currency market plays a crucial role in determining the value of your transfers. To maximise your returns, timing your transaction to align with favourable GBP/EUR exchange rates is key. A weaker euro benefits those purchasing property in Spain, while a stronger euro favours sellers repatriating funds. Even small fluctuations in exchange rates can translate to substantial differences, potentially saving thousands on large transfers. For instance, in 2023, the GBP/EUR rate fluctuated between €1.11 and €1.17. This would amount to a difference of €18,000 on a £300,000 transfer.


Opting for a currency specialist over traditional banks

While banks are often the default choice when making an international transfer, utilising specialist currency providers proves more cost-effective. Not only do these providers generally offer more competitive exchange rates, but they also don’t charge the additional transfer fees typically imposed by traditional banks, resulting in immediate savings. Moreover, unlike banks, currency providers offer flexible transfer options beyond immediate spot transfers. Services like forward contracts allow you to lock in favourable rates for future transactions, shielding you from unfavourable market shifts.


How Currencies Direct can assist

Currencies Direct stands out with its competitive rates, personalised support, and range of transfer options. Additionally, their exclusive partnership with CaixaBank eliminates receiving charges in Spanish banks, further enhancing savings. With expert guidance and real-time market insights, Currencies Direct ensures timely and informed transfer decisions. As a licensed currency provider within the EU, clients can trust their funds are backed by the appropriate regulatory authority. Pop into your nearest Currencies Direct branch to chat with one of our friendly currency brokers and discover the potential savings you could be making on your transfers to and from Spain.


About Currencies Direct

Currencies Direct have been helping individuals and businesses save time and money since 1996 with excellent exchange rates and no transfer fees. With a team of over 550 currency experts and 20+ branches across Spain, Currencies Direct are never far away when you need them. They’ll keep you up to date with the latest market movements so you can pick the right time to move your money. They also offer a range of specialist services that can be tailored to your individual requirements. If you have a currency requirement coming up, get a quote now to find out how much you could save.


Currencies Direct is an official sponsor of Age in Spain. By using the link below for your currency exchange quote you can not only get a competitive and transparent currency exchange service, you are also helping us to keep our information services free for everyone (at no extra cost to you).


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Age in Spain provides information about service providers for information only. This list is not exhaustive, and is subject to change at any time. None of the service providers are endorsed or recommended by Age in Spain. You should research whether a service provider will be suitable. Age in Spain does not accept any liability arising to any person for any loss or damage suffered through using these service providers or this information.

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