English: Exchange rate Euro – Slovak koruna Deutsch: Wechselkurs Euro – Slowakische Krone (Photo credit: Wikipedia)
The Wall Street Journal article ‘American Real Estate Buyers Take Advantage of the Falling Euro’ gives us an insight to why now is time to buy in Europe.
- Europe On Sale 25% Discount!: For Americans who have always dreamed of owning a second home overseas but have hesitated for one reason or another, the falling euro’s is a game changer. The dollar has strengthened 26% against the euro in less than a year. The last time the dollar was this trading this strong was in 2003.
- Rejoice In Choice: President Hollande’s market reforms put a damper on a French housing trend that was rising at a time when many property markets around the world were struggling. This led to the housing glut we see today. “There are also more choices: Inventory of the highest-end apartments is way up”, said Mr. Kraft of Sotheby’s, “partly in response to new taxes on wealth and assets.”
- A Perfect Storm – New prices, plus the exchange rates, are just starting to lure Americans back into a market they have avoided since the financial crisis. However, combine that with mortgage rates at an all time low worldwide and this truly is a torrential down pouring of opportunity for anyone who ever dreamed of buying property in France.
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