Yahoo Finance | A home in the sun for £40,000: Is it too good to be true?

As the pound shoots up against the euro, the price of a bolthole on the continent is rapidly shedding its cost.

Last summer the value of sterling was around €1.14, whereas it’s now hovering at €1.26.

Coupled with a few years of falling prices in Europe and, suddenly, that farmhouse in the Tuscan Hills or villa next to the beach looks remarkably good value – especially when compared with overheated parts of the British market.

It’s entirely possible to pick up a property for as little as £40,000 in southern Italy and a home for less than £100,000 in Spain and Portugal (See gallery below).

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