Great piece by Knight Frank, out of London, about currency and real estate crossing boarders.
When a foreigner looks to buy - the stronger their currency vs the US dollar - obviously determines their investment cap. There have been global investors over the years who use their purchase of New York real estate as a piggy bank. The Us dollar is a lot more stable than many foreign currencies which makes investing in real estate a safer, greater return opportunity than the equities markets. This year might be considered a bad example with stocks spiking up 20%, while real estate is down/flat. But over the years, real estate has been the better play.
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