The Real Deal Miami

Dollar dive boosts real estate investments

September 17, 2009 04:13PM

Overseas buyers may again take advantage of their stronger currencies to pick up South Florida real estate as an ongoing weak dollar policy will likely stay in place to help U.S. exports. Year-to-date, the dollar has fallen 3.7 percent against the euro and 21 percent against the real of Brazil. Manuel Lasaga, president of Miami-based economics and finance consulting firm StratInfo, said import-export companies in South Florida are going to see this as a growth opportunity in those countries whose currencies will appreciate with respect to the dollar. Albert Bolter, a real estate analyst for Colliers Abood Wood-Fay, said overseas buyers, particularly closed-end funds, want AAA office class product. They want long-term leases and leased-up buildings with a fixed net return, and are looking at potential bargains. [Miami Today]