Weak Dollar – Strong Pound and Euro
Talk about opportunity knocking for European property buyers who are thinking about purchasing property in Florida. This is a rare situation where there is both a buyer’s market and an excellent exchange rate.
A pound buys $1.95 to $1.98 US and the Euro is holding at $1.33. When you take into account that Real Estate prices have dropped 20% to 30% in the single family market in SouthWest Florida, Europeans can now buy a beautiful waterfront home along Florida’s gulf coast of Mexico for 30% to 40% less than it would have cost one to two years ago.
Wish I could buy a flat in South London for a 40% discount!