NEWPORT BEACH, CA—For high-net-worth investors, the currency-exchange rates overseas may make luxury purchases in some non-US markets a smart move, XE foreign-exchange dealer Mike Diaz tells GlobeSt.com. The locally based currency-transfer company is seeing several notable trends from clients purchasing real estate abroad. We spoke with Diaz about some of these trends, why investors would choose to transfer money abroad and what their biggest concerns are about currency transfers.
GlobeSt.com: What are the most popular international property purchase trends today?
Diaz: Americans transferring money out to buy properties overseas are most interested in vacation properties in France and Spain. We are also seeing a lot of property investment in residential or commercial properties in Australia and New Zealand because it's cheap to transfer the funds out there. For our Canadian clients, we're seeing a lot of snowbirding in Mexico, Arizona and Texas, as well as some scattered investments in Costa Rica and Colombia.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
