I was a kid the last time the dollar was this weak against the Great British pound, but right now for every pound a Brit brings to Orlando, they get over two dollars ($2.09) in return, effectively doubling their money – and more than doubling it when you take into account how much more expensive the U.K. is. This makes buying Orlando condos a no brainer. Combine this with the current heavy discounts in the Orlando condo market and you’d have to be a fool not to invest.
Our Canadian neighbors are enjoying a similar state of affairs. The Canadian loonie has parity with the U.S. dollar for the first time since 1976! It’s checking in today at $1.09 having risen 22 cents this year alone against the U.S. greenback, making it the world’s best-performing major currency.
While the loonie is expected to stay strong, in the U.K. the situation is expected to deteriorate, with some expecting the rate to drop back to as low as $1.70 next year.
Overseas buyers need to take advantage of this situation while the going is good. Because if the exchange rate tanks, it has the potential to completely wipe out any great condo steals you may have found during your Orlando vacation.