Brexit Means Profit for Britons Selling Portugal Property
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Stronger euro vs pound seen as incentive for British to sell
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French overtake British as biggest property buyers in Portugal
Just weeks after the U.K. voted to leave the European Union, Peter Thompson, a British healthcare consultant, sold one of his two homes in the fishing town of Tavira in Portugal’s Algarve region, capitalizing on the plunge in the pound against the euro.
Thompson and his wife, who spend half the year in the British northwest county of Cumbria and the other half in Portugal, had bought their second property in the Algarve at the end of 2015 from another Briton who sold his home at a discount after the U.K. announced it would hold a referendum on its EU membership. When Thompson, 59, and his wife sold their property, they were able to take advantage of a drop of more than 10 percent in the value of the pound against the euro…
Brexit Means Profit for Britons Selling Portugal Property
