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U.S. Real Estate Sought By Foreign Investors Due to a Weaker Dollar
The weak US dollar has been good news for real estate. Taking advantage of the favorable conversion rates, foreign investors are eagerly picking up real estate in major cities across the US. Who is buying and where are they investing? WHO IS INVESTING? In recent years the U.S. real estate market has seen the highest amount of investing from foreign investors in Germany, Britain, Canada, Japan and the Netherlands. Germany was the strongest player in 2004 reporting over $4 billion in investments for that year. Where are they buying? In the past Europeans were drawn to East Coast properties and Asians to the West Coast. Now, because of the lower interest mortgages and a weak dollar, foreign investors are picking up property, commercial and residential, in all major US cities, including Chicago and Las Vegas. CANADIANS AND AUSTRALIANS BENEFITING TOO Even neighbors north of the border in Canada are seeing the benefits. Although the Canadian dollar has been weaker than the US dollar for years, many Canadians own vacation homes in the US, particularly in Arizona. They are one of the highest volume investors in the US real estate market. Whether buying or selling, Canadians are enjoying stronger purchasing power while the US dollar remains low. Some Canadians, instead of buying, are following the lead of foreign investors who are selling current US properties in preparation for buying at an even better rate if the US dollar continues to fall. While Germans are slowing down in the volume of investments due to recent caps, Australians are picking things up. Australia, with one of the largest pension funds in the world, must look beyond their own real estate market for investment opportunities. Investing in US real estate permits them to invest their huge national pension funds into diversified holdings. HOW LONG WILL IT LAST? Although the current mortgage rates are an appealing draw, they will not remain low indefinitely. However, lower priced properties such as foreclosures would make the financial investment potentially lucrative for foreign investors despite the interest rates as long as the dollar remains low. Foreign investors looking for long run profits anticipate an increase in the US dollar as an incentive to buy. Investing while the euro is strong and the US dollar is weak means they can pick up real estate for a relatively low investment. Already some countries are seeing up to a 35% discount based on the favorable exchange rates. However, the aim is to hold the property until the US dollar is strong and then the conversion to euro would be highly profitable. With the availability of properties online it is easier than ever for investors to find properties without crossing an ocean. Some of the best deals, such as foreclosures, can be researched and purchased without coming to the US. This makes investing in US real estate a great opportunity for investors no matter where they live. Copyright 2005 A1-Foreclosure.com Jeff Garrison is a regular contributor to A1-Foreclosure.com, a website which provides timely real estate foreclosure and investing articles pertinent to real estate buyers, investors, realtors, and sellers. Includes a guide to free foreclosure listings and other sources of investment property including foreclosures bank owned.
MORE RESOURCES:
Landmark Settlement Breaks Up the Real Estate Cartel The American Prospect Top real-estate CEO sees decades of housing pain ahead: 'What the Fed did will have a 30-year tail on it' Yahoo Finance Commercial Real Estate's Systemic Threat: Separating Fact From Fiction Commercial Observer Five Ways Buying and Selling a House Could Change The New York Times Va. real estate industry weighs in on $418M Realtors settlement Virginia Business Magazine Local real estate agents face uncertain future with new negotiation rules WJHL-TV News Channel 11 The Realtors' Big Defeat The New York Times CrewBaltimore’s mission to accelerate women’s success in real estate Afro American Newspaper Investigation underway after 44-year-old real estate investor seen on video firing shots off boat docked at Lakeview ... WSVN 7News | Miami News, Weather, Sports | Fort Lauderdale Settlement will affect Iowa homebuyers KCCI Des Moines The Best Places to Retire in Florida Real Estate A luxury agent on how the NAR settlement will change his business The Washington Post What Seattle-area homebuyers should expect after national settlement The Seattle Times New rules on real estate commissions could change the housing market game LehighValleyNews.com Cities Face Cutbacks as Commercial Real Estate Prices Tumble The New York Times Illinois real estate: Home sales in Peoria, Tazewell, Woodford counties Peoria Journal Star Investigation underway after 44-year-old real estate investor seen firing shots off boat docked at Lakeview home in ... WSVN 7News | Miami News, Weather, Sports | Fort Lauderdale Foreclosures Are Rising—Especially in This One State—but Not for the Reason You Might Think - SFGATE Once America's Hottest Housing Market, Austin Is Running in Reverse The Wall Street Journal Real Estate: March 4 to March 8 Newport This Week Realtor group will pay $418M to settle commission lawsuits The Associated Press Real Estate Roundup: 240-acre farm near Orlean sells for $1.9M and more Fauquier transactions Fauquier Now H2 2023 Global Real Estate Report PitchBook News & Analysis Chicago Voters Face Choice on Tax to Fund Homeless Programs The New York Times REAL ESTATE | Kewaskum Police station moves to temporary location | By Chief Tom Bishop washingtoncountyinsider.com Austin real estate: Holt Lunsford plans first area project Austin Business Journal Is real estate the best investment in 2024? Racine County Eye Changes could be coming to fees related to home buying process Fox 46 Charlotte Bay Area Real Estate Executive Charged with Wire Fraud, Identity Theft in Investment Scam - Hoodline What the death of the 6% real estate commission means in D-FW The Dallas Morning News The NAR Settlement's Impact On Commissions And Home Prices Financial Samurai Checking In on Dallas Real Estate The Dallas Express Real estate commissions, unassailable for decades, could crumble after landmark settlement The Denver Post What National Association of Realtors agreement means for Texas real estate KAMR - MyHighPlains.com Is the Era of the Celebrity Real Estate Agent Over? Industry Reacts to Settlement That Could Slash Commissions Hollywood Reporter China's Real-Estate Market Just Set a Record—but Not a Good One The Wall Street Journal Real estate lawsuit settlement will affect Orlando agents - Orlando Business Journal The Business Journals Real estate lawsuit settlement upends decades-long policies that helped set agent commissions WQAD Moline Major Changes to Real Estate Business erienewsnow.com National Association of Realtors Agrees to Slash Commissions to Settle Lawsuits - The New York Times Real Estate Settlement Could Affect Housing Market erienewsnow.com A commission settlement may affect housing market 9News.com KUSA Realtors Reach Settlement That Will Change How Americans Buy and Sell Homes The Wall Street Journal |
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