The euro-dollar parity opens the door to more American investment in housing

One US dollar is equal to 0.98 euros, 

That is, the two currencies are at par. This means that for a North American or Latin American to buy a home in Spain it is cheaper than it was years ago, with which the real estate market has become more attractive for foreign investment. And Madrid is the main channel for investment from Latin America: Venezuelans have been joined by Mexicans, Colombians and more recently Peruvians, following the political changes in their respective countries. They prefer to buy a house in the capital of Spain or on its coasts than in Miami (USA), one of the main real estate investment markets for all of Latin America.

The interest of Latin Americans and even Americans in owning a home in Madrid and on the Spanish Coast is growing. 

Why Madrid? In addition to being the capital of Spain, Latin Americans like it for its good communications, not only because of the Barajas airport, which has direct flights to practically all the countries of America, but also because of public transport. They are also passionate about Madrid for restaurants, leisure, street safety and the health system. And the language barrier is not a problem for these investors. Coastal areas such as the Costa Blanca or Costa del Sol are also beginning to show the same situation.

The parity of the dollar with the euro means that American investors see Madrid with more interest than Miami, since they can buy bigger houses for the same money.

In addition, it is added that the interest rates on mortgages in the US already exceed 5%, while the INE places the average interest rate on mortgages in Spain at 2.47%. Arguello points out that, in our country, banks are open to financing the purchase of homes by foreigners, while in the United States the process for a foreigner to obtain a mortgage is more complex and tedious.

And another very attractive factor for foreigners is the 'golden visa', the residence permit that is granted to foreigners who invest more than 500,000 euros in housing. In exchange for investing, residence is granted for two years throughout Europe and the possibility of becoming Spanish citizens after those two years.

The Ministry of Foreign Affairs granted 324 'golden visas' in the first half of 2021, while in all of 2020 there were 394 foreigners who obtained this permit

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