Tuesday, 24 March 2015

Tuesday, 24 March 2015

Now is the time for Britons to buy property in Europe

Jim Mellon, Britain's answer to Warren Buffett, says the euro has hit the bottom and now is the time for Britons to buy property in Europe.

The combination of favourable exchange rates and comparatively low house prices makes purchasing on the continent the investment to make.

That being said, the currency markets are incredibly volatile at the moment; the cost of a 200,000 euro property was £6,000 more expensive last week than it was the week before so timing is key.

Entrepreneur and investor Jim Mellon has reportedly amassed a fortune of £850m by making the right calls and identifying various key trends or "money fountains".

He built his reputation after making spectacular amounts during Russia's transformation in the 1990s and more recently has seen his bold views on biotech pay off. Sometimes called Britain's answer to Warren Buffett, he co-authored Cracking the Code three years ago, which correctly predicted biotech investments would take-off.

In a new series of video interviews with Telegraph Money, he shares his views on the best investments today, how he built his fortune and his worst investment mistakes.
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