BORIS: The new PM’s no-deal Brexit stance has seen the Pound dramatically slump against the Euro

JULY was quite a hot one for many in Europe with the UK registering 38.1° C, hotter than our own highest monthly registered temperature in Mallorca of 35° C.

It is not overly pleasant to be working in those temperatures without access to a nice refreshing ocean or pool to dive into – one thing we’re never short of here, thankfully!

The usual chaos ensued with warping railway tracks, melting commuters and holidaymakers going nowhere.

If that didn’t do it, there were those getting hot under the collar over the results of the Conservative Party election with Boris jumping into the driver’s seat!

It will certainly be an interesting one to watch – to see if he can dig us out of the deep hole left by the last six months of stalemate from the UK Parliament.

ROCK BOTTOM: The Pound was at its lowest level for two years

There are difficult choices to be made, although not of the kind nearly as enjoyable as having to choose to watch England win the Cricket World Cup or yet another incredible final from Wimbledon – reaching their climaxes simultaneously on different channels.

Boris’ win and the increased chance of a no-deal Brexit had the exchange rate at the time of writing plunging to its lowest for two years against the dollar at $1.21, and against the euro at €1.0881.

Whilst some might think so, the money markets clearly do not favour the new Prime Minister’s direction and determination to leave the EU on October 31 – ‘no ifs no buts’.

It’s going to be a hard and rocky road ahead as he builds a team around him that seems equally determined – but even so, they still need to secure parliamentary approval through a majority in the House of Commons, something which has proved quite impossible to date.

One thing for sure is that travel for the Brits holidaying abroad is going to be quite a shock, with the pound decreasing below the Euro with today’s airport exchange companies! 

Looking at the positive side, it’s a great time for British sellers to sell if contemplating, and just as well we have a diverse marketplace from a broad mixture of nationalities – I may have to start learning another language after all! 

Currently I am looking for some apartment development opportunities for an investor, which as yet isn’t bringing anything overly exciting to the fore.

In addition, I have a South African investor looking for prime hotels in top locations, so if you just happen to be a hotel owner, or know of one, open to selling at this time please do get in touch.

For any questions or if you require assistance with selling or buying a property you can contact Amanda on [email protected]

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