In today's Rio Times, there is an article written by Brennan Stark entitled "Dollar Climbs to R$1.70 Against the Real: Daily," which points to a critical component of Florida real estate investment and land development today: how much value can foreign currency get a foreign investor here in South Florida in 2011?
One part of that answer is the price tag on the real estate and land being sold here (there are so many bargains). Another is the currency rate: how much can the foreign investor expect to get for his peso or real or shekel?
According to Mr. Stark's article, the Brazil Real has fallen in comparison to the U.S. Dollar and it's suggested that this is due to money being moved away from Greece and Italy and into the more stable U.S. marketplace. It's not a big drop, and Brazilians are still getting a lot more for their reals here than they can get for them back in Brazil (see our earlier post, "Brazil Discovers South Florida Real Estate Bargains and Bloomberg Notices.")
Please see full article below for more information.
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