Despite Dollar Drop, Good Buys Overseas

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The European property market continues to appeal to U.S. buyers, despite the declining value of the dollar. Some see foreign properties as a good place to park their dollars as opposed to the unpredictable U.S. market. Although housing prices in many European countries are outpacing the U.S. market, there are deals to be found in Southern and Eastern Europe, experts say. "You don't get as good a value as you would have a couple of years ago," says Jim Gillespie, president and chief executive of Coldwell Banker. But he says there are still lots of good dealsl available. The 2007 Coldwell Banker Home Price Comparison Index, which compared the cost of a 2,200-square-foot, four-bedroom, 2 1/2 -bathroom home with a family room and two-car garage in 317 markets, pinpointed good deals in some markets and high prices in others. The study ranked Dublin as the most expensive market, at $2.1 million, followed by Milan, Italy, $1.9 million; Rome, $1.7 million; and Paris, $1.7 million. Bogota, Colombia, ranked as the most affordable foreign market in the study at $140,100. Los Angeles Times, Michelle Hofmann (12/23/07)

 

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