Expats cashing in on weak Aussie dollar for property investment

Expats cashing in on weak Aussie dollar for property investment
Expats cashing in on weak Aussie dollar for property investment

The weak Australian dollar is good news for Australian expats!

They can invest in property cheaper from money earned abroad.

Australians who bought property in the US during the global financial crisis when housing prices crashed in many parts of the country, including Las Vegas, can reap the benefits now as a stronger US economy and dollar mean rising rental income and strong capital growth. 

The Australian dollar fell to six-year lows in September. It has recovered since then, and was hovering around 0.71 to the US dollar by late December.

A weak local dollar would only mean those Australians who brought property in US can now find a profitable route to bring their money home: invest in property in Australia.

According to Greville Pabst, chief executive of property valuers and consultants WBP Property Group, a falling Aussie dollar represents positive news for expatriates, with the improved conversion rate giving them “greater buying power”.

 

Tags: 
Property Investors Residential Market

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