Forex and the Economy are Two Interesting Things in International Real Estate Investing
Two days ago I was checking on the USD value of the luxury condo unit I'm reselling for my client. This is how I found Forex and the Economy are two really interesting things. 😄
Back in college I was fascinated with my Economics subject. Supply and Demand and all that seemed really interesting. A business course was my second choice in college but I went and graduated Fine Arts instead. ❤
Anyway look at this example of the Westin Manila Residences resale 2 bedroom pre-selling unit I'm reselling.
If 1 USD = 40.48 PHP (back in 2008) that means the resale Westin 2 bedroom pre-selling unit would be more expensive at $518,774.
Last April 4, based on then exchange rate, it was equivalent to $403k if rounded off.
Two days ago it was at...
Continue reading here...
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That's actually quite interesting indeed. Relating it to crypto. You could have sold some assets when BTC dropped below 3.000 and could have already doubled your money. I wouldn't sell real estate for crypto though 😅. For forex it is interesting indeed.
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Yeah it's better to sell crypto for real estate maybe when you've earned enough. Haven't been checking on Forex for real yet but this is a good example applied to real life situation. 😊
Yeah. It did open my mind. Our local currency deflated recently, so we've always looked at possibilities for foreign currencies, but I never considered using forex in such an situation either.
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Hmmm. Lemme see. I've just checked on your currency and it seems the SRD is still more than PHP.
Are there many millionaires there? Haha. There's only a notable few billionaires here (in local currency) I think, and some rich ones, most are middle class then of course we also have the low income earners and below poverty people too... Don't have the exact details though. 😅
Haha.. that's interesting. There are a lot of millionaires and even more aspiring ones. From a macro perspective the number might not look as bad, but those numbers can be manipulated quite easily. SRD 3.50 used to be USD 1 in 2010. Currently the USD goes for SRD 7.50 according to the bank, but you can't get it on the streets for less than SRD 8.
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Oh wow. Maybe I should add your country to my bucket list. 😂 Now I'm going to read more abt your country. 😄
Maybe if you have relatives/friends/colleagues or anyone who's into buying real estate here in the PH you know who to contact eh? 😁😆
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