1031 after selling property in Europe and investing in the US

[Gabi Ashenden]

I'm European, and I purchased a property when I was back in college in Europe (2009). I just got my green card, and I'm thinking about selling the property because rent to value ratio is ridiculously low. The property has more than doubled in value, and I was wondering if it's possible to use 1031 to buy the property in the US. I don't want to keep investing back home. Also, how would the rate conversion work? Obviously, the rate 14 years ago was different than it is today to the currency that's used back home. 

Thank you! 

[Basit Siddiqi]

Quote from @Mohammed Rahman:

Hi @Gabi Ashenden - programs such as the 1031 only apply to properties located in US. The program is designed in order to keep your money invested in the American economy, buying/selling property abroad and hoping to use the 1031 would effectively defeat this purpose. 

I'm not certain whether your nationality might also come into play in the hypothetical scenario that you owned the property here in the states. I'm not sure to the answer as I know in the US all nationals are welcome to purchase real estate, God Bless America :) 

Actually, the 1031 exchange can also apply to foreign property. However, she would need to exchange it for another foreign property.