Florida is becoming an increasingly attractive place for foreign investors, according to a recent article I was reading.
Evidently, Florida real estate sales to foreign buyers is nearing $8 billion.
If you’re thinking about listing your home anytime soon on the local housing market, it’s important that you know more about this huge trend on the local and statewide housing market and now it impacts you.
Foreign Investors Love Florida Real Estate, Including in Central Florida
According to the recent article I was reading, from January to June, non-resident foreign buyers purchased an estimated $7.97 billion worth of Florida real estate.
This is up from last year, when $6.43 billion was spent by foreign investors in the same period a year earlier.
In all, foreign investments in our state have increased by 23 percent year-over-year.
According to the National Association of Realtors Profile of International Home Buyers in Florida 2014 report,32 percent of these purchases were made by Canadian buyers.
Meanwhile, 24 percent of investments were made by buyers in Western Europe, particularly the UK, Germany and France.
Latin American and Caribbean investors made up 23% of all foreign funds. Many of these individuals came from Brazil or Venezuela.
Asian buyers made up 10 percent of foreign real estate investors in Florida, with China accounting for 6 percent.
All told, it appears that about 10 percent of the total residential market in Florida was made up of sales to foreign buyers – up from 9 percent last year.
What’s more, it shows that Florida is incredibly popular to foreign investors. In fact, about 17 percent of the $46.7 billion spent by foreigners on US properties went towards buying property in Florida.
Broken down further, it is estimated that international buyers purchased about 26,500 individual properties in Florida. This is compared to 22,600 in the same period a year earlier. This shows a 17 percent growth in total units purchased.
Perhaps that’s why more than half of Florida real estate agents (52 percent) have international buyers on their list of clients. This is compared to the national average of 28 percent.
So What Does This All Mean for Central Florida Home Owners
An effective Central Florida real estate agent will be able to create a marketing plan for your home that appeals to both domestic and international home buyers in order to secure for you the best price possible on your home.
Contact me, Debbie Summers, today to learn about how I can effectively market your home to get you the price you want and to sell it in as little time as possible.
Until next time,