NYC Real Estate Just Got 25% Cheaper for Swiss Buyers

U.S. investors turned their focus to the Swiss franc after the currency soared by 25 percent in value against the U.S. dollar this morning. Although the news came as a bad surprise for most investors in both Europe and the U.S., Swiss franc owners were able to buy NYC real estate 25% cheaper than yesterday.

A few minutes after the announcement, the Swiss currency fell back to trade  around 14 percent higher than the U.S. dollar. Still, the U.S. real estate market can bring nice profits for investors who own Swiss francs today. 

Let’s see how much cheaper a Manhattan condo is today, as compared to the day before.

If yesterday a $2.8M condo on 30 West Street was worth CHF 2.84M, the same condo is valued at CHF 2.45M as we speak. Therefore, an investor could pay around $400.000 less for the same luxury condo if he was lucky enough to own Swiss francs.

For more details, read the CNBC story.