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Prices: in Sterling / Euros / Egyptian Pounds - which is best

Discussion in 'Egypt property' started by dave99, May 27, 2008.

  1. dave99

    dave99 New Member

    For British people buying in Egypt is it better to have your Egyptien property at a fixed price in Pound Sterling or Euros or Egyptian Pounds - and why.

    The currency changes over the last few months have been significant.

    Get this wrong and it could cost you lots of extra money by the end your payments.

  2. SuziQ2708

    SuziQ2708 Guest

    It certainly is better to have the prices in Sterling rather than Euro's at the moment. The GBP is not as strong as the euro and could make a difference of thousands. The Egyptian pound would be better still I guess, as you get so many of them to the GBP :D
  3. Lsab

    Lsab New Member

    As British people being paid in Bahraini dinars, we haven't done well for over a year. The dinar is linked to the dollar and we know how that has fared against sterling. £30,000 a few years ago cost us about 17,000 dinars, it's now more than 22,000 - a considerable difference. We would do much better paying in Egyptian pounds but who can tell for sure what's going to happen to any currency over the build period?
  4. mtrtnik

    mtrtnik New Member

    GBP is also loosing againt EGP so my advise would be to leave contracts in GBP.

    British Pound to Egyptian Pound Exchange Rate - Yahoo! Finance

    For us who are making money in EUR, GBP is at the moment nice speculation and last two contracts I made I left all prices in GBP and earned some 8% on exchange rate. Of course this is only on paper at the moment as my next installment isn't due yet.

    HORIZON New Member

    Currency brokers

    In nowadays volatile markets it is good to use currency broker, for example HiFX UK for overseas property purchases. If the currency of the development is other than GBP, then they can fix the price in forward contracts in case you have regular payments to be made according to the financial plan. The transfer is free and no receiving bank charges. Good for client and company as well as you can track and control client's cash flow.
  6. Sooky

    Sooky New Member

    This is a very good idea - we have been caught out recently with our final transfer for our house build project. We should have used a broker with a fixed price - and there are some goods ones around.
  7. this is correct, but now it start to go up again we :)
  8. Mark Taylor

    Mark Taylor New Member

  9. Lsab

    Lsab New Member

    ....except the dollar? and therefore the Gulf currencies :(
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