There is never really a right or wrong time to buy a property – the decision is very personal, but with all things being equal, the strengthening dollar means that it may be worthwhile thinking about buying a property in Europe if your savings or income is in dollars.
We consider a market such as Italy that has yet to fully recover from the financial crisis is ideal for investment and it seems that things may finally be on the turn with the results last week from the Agenzie delle Entrate that the Italian housing sales are positive for the first time in seven years.
For the US dollar investor, as recently as May 2014, the exchange rate was USD 1.39 to the Euro, whereas on Friday 6 March 2015 it was at 1.09.
So what does this mean? Let’s take the average holiday home investor – for example with $300,000 to invest. In May 2014 this could buy an apartment on Lake Como for just under €216,000. Around Lake Como this should have achieved a 2 bedroom apartment. However just 10 months later with the stronger dollar this would be now €275,000 and thus open the door to a greater choice of apartments, and possibly even a small villa! At Lake Como Concepts we have villas starting at €260,000 so every extra euro really counts!
How will it go in the future? Will the dollar continue to strengthen? Who knows – talk to your financial advisor see what they are suggesting.
All we know is that Lake Como has a lot to offer to the investor – prices have held firm compared to other areas of Italy during the crisis and it is well positioned now to take advantage of Milan EXPO 2015! In addition with the news last week that annual Italian housing sales have turned positive, then it may be a perfect moment! So if you are thinking of buying have a look at the real estate we are selling at www.LakeComoConcepts.com
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