Change for example GBP 100,000 into $ 156.330 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)
1.5633
0.0046
YEN (per USD)
89.5070
-0.2025
EURO (in USD)
1.3746
0.0098
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 Gives Back, Euro Advances on Hopes for Greece Bailout Tuesday, 09 February 2010 12:05 GMT
Written by David Song
The British Pound failed to hold ground during the overnight trade and weakened against the greenback for the fifth day to reach a low of 1.5566, and the currency is likely to face increased volatility over the next 24 hours of trading as the Bank of England is scheduled to release its quarterly inflation report tomorrow at 13:30 GMT. Meanwhile, the BoE’s financial markets law committee criticized the European Union’s draft to increase regulation of the hedge fund industry and said that the law would cause “systemic failure and widespread market disruption” if policy makers were to implement the new measures.
Nevertheless, a report by the British Retail Consortium showed retail spending increased at an annual pace of 1.2% in January after surging 6.0% in the previous month to mark the slowest pace of growth in at least 15 years, while the Royal Institution of Chartered Surveyor home price balance index increased to 32% from 30% amid expectations for a drop to 27%. In addition, the U.K. visible trade deficit widened more-than-expected in December, with the balance slipping to GBP -7.278B from a revised GBP -6.798B as imports increased 5.2% to outpace the 4.5% rise in exports. As policy makers expect to see a “gradual” recovery in 2010, the BoE may hold a dovish outlook for inflation and keep the benchmark interest rate at the record-low throughout the first-half of the year, but the jump in short-term price pressures may lead the central bank to turn increasingly hawkish as they aim to balance the risks for the economy.
The Euro halted the four-day slide against the U.S. dollar and bounced back to reach a high of 1.3747 as market participants speculate European policy makers will come to Greece’s aide after ECB President Trichet took an earlier flight back from a meeting in Sydney to attend an EU summit. However, during a speech in Australia, the European Central Bank head said that central banks face “substantial challenges” as they are faced with the task of balancing the risks for growth and inflation, and said that anchoring inflation expectations is “paramount” as the global economy emerges from the recession. At the same time, the central bank announced it will hold a liquidity-absorbing one-day tender today in order to counteract a “large positive liquidity imbalance,” and said the measure will be offered at a variable rate, with an upper bound of 1%. Meanwhile, the final CPI reading for Germany showed price growth slipped 0.6% in January, while the annualized rate increased 0.8% from the previous year, which was largely in-line with expectations, while the trade surplus narrowed to EUR 13.5B in December from a revised EUR 17.2B, led by a 4.5% rise in imports.
The greenback lost ground against most of its major counterparts as investors raised their appetite for risk, while the USD/JPY retraced the previous day’s decline to reach a high of 89.75, and risk trends are likely to dictate price action going into the North American trade as the economic docket remains fairly light. The IBD/TIPP economic optimism survey for February is scheduled to cross the wires at 15:00 GMT, while market participants forecast wholesale inventories to increase 0.5% in December after rising 1.5% in the previous month, and conditions are likely to improve going forward as the expansion in monetary and fiscal policy continues to feed through the real economy.
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