Miami Condo Market and Lifestyle Updates
Devaluing of the Euro Creates Concerns for Miami’s International Market

Devaluing of the Euro Creates Concerns for Miami’s International Market

by Sep Niakan | January 26, 2015

The recent drop of value for the Euro is a shocking one. Some are asking, will the drop of the Euro hurt sales for condos in Miami?

Peter Zalewski, a real estate consultant, licensed broker, and columnist, answers this question about the South Florida real estate market.

Miami is looking expensive for the international investors of the 19 countries of which the Euro is the primary currency. The current exchange rate from Euro to Dollar is €1 to $1.16, which is down significantly from €1 to $1.367 only a year ago. This is actually the weakest rate that the Euro has had being weighed against the dollar since 2003 when it was worth €1 to $1.055.

Because of this shocking drop in value, everything in Miami, from hotels to clubs, to condo purchases, cost about 14% more than it did a year ago. The weakening of the Euro might tarnish the reputation of Miami as a cheap, international destination for vacations and real estate investments.

Western European buyers account for 8% of the international sales in the Latin American area of Miami. They also account for 18% of Fort Lauderdale and 24% of Palm Beach sales.



Photo credit: Aerial

Recent posts

Opinions and Advice

Miami Pre-Construction Frequently Asked Questions

by Sep Niakan | May 22, 2017

How much is the fee to have a knowledgeable and licensed Miami real estate broker help me select the right property? How much of my money does developer use during construction? What are the penalties if I decide to cancel my pre-construction...

Opinions and Advice

Comprehensive Guide to Buying a Pre-construction Property or Condo in Miami

by Sep Niakan | May 22, 2017

Why You Need to Read This Miami Pre-construction Condo Guide Miami Pre-Construction Phases How to Negotiate the Best Miami Pre-Construction Deal How to Finance Pre-Construction Property Closing Costs for Pre-Construction...


Save the Date for these Stellar June Events in Miami

by Sep Niakan | May 20, 2017

With summer here, Miami turns up the heat with the hottest events lining up for the month of June. You can find a new way to spend each day, whether it's catching up on international cinema, going on a food-eating spree, or peering over the...

Real Estate News

Luxury Miami Condo Report : April 2017

by Sep Niakan | May 18, 2017

Miami Luxury Condo Report Overall Market Summary   City and Neighborhood Luxury Condo Reports   Miami Beach Luxury Condo Report South Beach Luxury Condo Report Mid-Beach Luxury Condo Report   Surfside Luxury...