Change for example GBP 100,000 into $ 197.180 and buy and let this luxury apartment in the best residential area of Panama City (the same flat would cost you three times more in Britain...), or give a private mortgage loan at 12 to 14 % net interest rate.
CURRENCIES
POUND (in USD)
1.9718
-0.0046
YEN (per USD)
107.1700
0.0150
EURO (in USD)
1.5682
-0.0046
Maybe you don't know that Costa Rica and Panama are dollar countries. Although national currencies exist, real estate and financing are in hand of the greenback. However, a little south of the U.S. real estate prices and the cost of living are much lower that in USA.
President Bush approves the weak dollar, since it helps him to finance his huge account- and fiscal deficits and makes US exports cheaper. The US dollar is a positive bargain, so that British investors head across the pond in their droves, which has provided a huge boost to the Floridian property market.
However, the US housing market has become a gigantic bubble due to correction, so that most property investors will face a dramatic decline in value sooner or later. Also, the continuing threat of further terrorist attacks has kept investors worried. In the light of heightened threat of international terrorism, many British citizens with home in the States are now experiencing the trials and tribulations of increased security when visiting the US.
You have a great opportunity to avoid all this by investing in Costa Rica or Panama, dollar countries at only 180 flight minutes from Miami, with 8 to 10 direct flights per day to the US and Europe. Political and economic stability are the base of both democracies, and many US investors show that buying real estate in Costa Rica or Panama is as safe as in the US, with the same construction quality, but much lower prices. Actually Costa Rica and Panama real estate markets are buyer markets with higher offer than demand.
The other option is to invest your money in private, fully secured mortgage loans with 12 to 14 % interest rate per year and loan to value ratio of maximum 70 %.
In tropical Costa Rica the cost of living is some 50 % less than at the Costa Blanca or Costa del Sol. Property costs too, are far less than in the US or Europe. Return on your investment and added value will make you smile. And you will invest in one of the most beautiful countries on earth, with a unique tropical fauna and flora and 300 days of sunshine every year.
We are based in Costa Rica's beautiful Central Valley and have associates on the Pacific Coast and in Panama. Wether you're looking abroad to buy, buy-to-let or just lend, we can find your ideal investment, negotiate the best terms for you, arrange finance, and manage the legal process through to completion.
British Pound: UK Economy Could Fall into a Recession
Monday, 07 July 2008 21:41:05 GMT
Written by Kathy Lien, Chief Strategist
The UK economy is worsening which is having a big impact on the British pound.
Last week economic data indicated that the service, manufacturing and construction sector all contracted in the same month.The last time this happened was 7 years ago and at that time, GDP growth slowed to 0.1 percent, the weakest level since the second quarter of 1992.This morning, UKindustrial production fell 0.8 percent, 8 times more than the market’s forecast.The entire UK economy is slowing and the country is now at risk of falling into a recession.This has become such a serious problem that there is even speculation the Bank of England could cut interest rates on Thursday.Given current inflationary conditions, we do not think that this is possible, but we do believe that the British pound will continue to trend lower ahead of the meeting.GDP growth should continue to deteriorate in the coming quarters, making the Bank of England’s job even more difficult. The report on house prices that is due for release tomorrow and that should also be pound bearish.
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