As the dollar continues to tank, the US is a very attractive destination for international travelers. On May 1st the US Department of Commerce announce an 11% increase of international travelers to the US from January 2007 to January 2008.

 

On a piggy-backing topic the international traveler is not only coming to the US to vacation but they are also buying real estate. Let’s take New York City as an example. In international real estate, property in the Big Apple is almost considered cheap. NYC weighs in at the 15th most expensive city in the world falling behind Moscow and London. As foreign currencies continue to hit record highs, owning property in NYC seems like an even better deal. When Manhattan real estate is purchased buy a European they are nearly doubling their investment transactions worth due to exchange rates.

 

Lets face it, real estate in NYC will remain well above the housing market’s national trend. This is a prime investment opportunity for residential and commercial purchases.