The Real Deal Miami

It’s time to buy in Europe

A weak euro means deals abroad

March 09, 2015 03:30PM

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A villa in Italy

A villa in Italy

From the New York site: The euro is hurting — and that’s good for Americans hungry for a deal on a European vacation home.

The dollar has gone up 26 percent against the euro from its low point last year. In fact, the last time the dollar traded this high against the euro was in 2003, according to the Wall Street Journal.

And while that’s encouraging some Europeans to cash out of their Downtown apartments, it’s also presenting an opportunity for Americans to snag a deal on, say, a Tuscan villa or a Parisian pied-à-terre.

“The consensus is that the euro-dollar will be at 1.10 by the end of this year, but a number believe the dollar could be even stronger,” Daragh Maher, FX strategist at HSBC in London, told the Journal.

And real-estate agents in Paris, Tuscany and Barcelona said that since January, they’ve seen an explosion of interest from Americans. Sotheby’s International Realty chief executive Alexander Kraft told the Journal that France and Monaco currently has 30 percent to 35 percent more American clients than in 2012 and 2013. He added that in Paris, Americans could now pay about 40 percent under what they would have in 2012. [WSJ]Christopher Cameron

  • Neil Hartnell

    Buying property in a foreign country where you have absolutely no say on taxes or the laws that govern your assets must be the most risky investment ever. Only the very rich can afford that risk. My wife and I will look go on a European shopping trip as the exchange rate gets more favorable and we can have a rest without fast UK payday loans assistance (just not for real estate).

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