The Mexico real estate market is many times effected by the exchange rate currencies People can save thousands of dollars from the significant movements of the USD to Pesos exchange, as well as the Canadian dollar to the USD rates Imagine that you are going to pay the closing costs on a Mexico property with a fixed peso rate of 100 pesos If the exchange rate sits at $10 pesos per dollar, you will need $10 usd to cover this fee If the exchange rate increases to $15 pesos, all you would need is $6.66 usd, a savings of $3.33 per every $100 usd It adds up Now in the case of today's news, if you are paying in USD, and the price of the property is quoted in USD, you would see no change in benefits
On the other hand, if the property is priced in USD, and you have Canadian dollars and this currency gained on the USD, this will result in cost savings upon the purchase of the property.See a previous post on Mexico Exchange Rate
This afternoon the US federal reserve made the announcement of purchasing large amounts of Treasury bills This should bring large amounts of US dollars into the market which will have a downward pressure on the cost of these units A friend of mine that works at the exchange house HiFX brought my attention to this occurrence and I wanted to share with our readers Keep an eye on the exchange rates in the next several days and weeks HiFX offers various services, including locking in exchange rates for future transactions This could be very helpful if you are witnessing or participating in an asset transaction Contact me for more information on this subject.
Thomas Lloyd graduated from Purdue University Krannert School of Management with a degree in Management/Financial Option Investments. He has been living, investing, and working professionally in Mexico for over 15 years. With a Mexican Real Estate Certifications and various diplomas he is the current president of TOPmexicorealestate, you can contact him at (512) 879-6546 or through the company`s web site www.TOPmexicorealestate.com
“Where TOP real estate experts from ALL regions of Mexico come together to share their Tips & Knowledge to help you buy safely !”
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