‘Over the last three years the dollar has seen a major downward turn against some of the world’s major currency markets, but this has also had a positive effect on pegged currency countries that have seen renewed tourism and bullish property investment’ says Tim vanDijk Project Manager for Obelisk.

‘Currently trading at over US$2 to the British pound and US$1.38 against the euro, the situation creates a window of opportunity for many Arab states including Dubai, Caribbean Islands and various Latin American countries, to capitalise on the European tourist and property investment market.’

Large parts of the world used to peg their currencies to the dollar, although some countries have broken the link, including Russia, China and Kuweit. But many South-East Asian and Middle-Eastern countries still peg to the dollar, as do some Central American and Caribbean states, including Panama, the Bahamas, Bermuda, Belize, the Cayman Islands, and the British Virgin Islands.

Mr vanDijk concludes ‘Highlighting the weakened dollar presents an advantage in the market, and the strong exchange rates generate the opportunity to secure property at very attractive prices. Looking for areas that have strong tourism and rental markets provides further value for money. However, the dollar will not remain weak forever and as such astute property investors making an early entry to these markets will be rewarded with a very viable and tangible asset to an overseas property portfolio.’