Change for example GBP 100,000 into $ 163.390 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)
1.6339
-0.0054
YEN (per USD)
95.9610
0.0388
EURO (in USD)
1.3958
-0.0045
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.
Euro, British Pound Lag as Data Indicates Economies Far From Recovery
Tuesday, 30 June 2009 21:27:50 GMT
Written by Terri Belkas, Currency Strategist
Both the euro and the British pound fell against the US dollar on Tuesday as economic data highlighted how far from recovery the Euro-zone and UK remain. Germany’s Federal Labor Agency said that unemployment levels rose by 31,000 in June to 3.5 million, the highest since 2007, while the jobless rate rose to 8.3 percent from 8.2 percent, suggesting that consumption is likely to fall in the Euro-zone’s biggest economy in coming months. Meanwhile, Eurostat’s initial estimates showed that Euro-zone CPI fell to -0.1 percent in June from a year earlier. While the European Central Bank (ECB) has said in the past that they expect inflation to fall negative mid-year, the actual results may keep concerns alive that deflation is a clear and present risk for the region.
The British pound was hit especially hard on news that the Office for National Statistics revised their UK GDP readings down to -2.4 percent for the first three months of the year, matching the Q3 1979 low. Even worse, the year-over-year rate of GDP growth was revised all the way day to -4.9 percent, which is the lowest since recordkeeping began in 1956. The results leave GDP at the lower end of the Bank of England’s past projections, and suggest that the central bank's forecasts were perhaps somewhat optimistic. Furthermore, if development continue to turn more dour, the central bank may start considering an expansion of their quantitative easing program.
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