The devalued dollar has also caused solid items, such as gold and real estate, to become more solid investments over the years.
Foreign buyers have favored South Florida locations previously, such as Ft. Lauderdale, Miami, and Naples, but higher prices in those locations have caused many foreign buyers to buy elsewhere, such as in the Orlando and Tampa areas.
Baby boomers are the largest population segment making up foreign buyers buying in Florida, and foreign buyers make up a large segment of the second home market. Most foreign buyers find homes and condos using the Internet, according to the report. Developers and brokers who understand the mindset of foreign buyers are likely to find a new segment to market their projects and properties to.
Information from Inman News was used for this report. Inman News requires a subscription for some content to be viewed.
Article comments
1 - Best Indoor Tanning Lotion
That explains why Florida real estate is increasing so fast. I really do not have a problem with as long as we can go into their countries and buy prime real estate too.
2 - Mr. Real Estate
We can buy real estate in many foreign countries. In fact, I have even had developers from Spain and other countries contact me about marketing their condo projects because they wanted to market them to US buyers. There is a huge market for European real estate, both as investment and second homes, here in the US.
3 - Christopher Rose
Makes like Sonic The Hedgehog and taps foot impatiently...
4 - RJ Elliott
People who are still buying up homes in the Naples market, or the Sarasota market, or the Melbourne/Palm Bay market, as investments, are complete fools.
If the real estate bubble bursts, it will be in markets like these, as well as Las Vegas and Long Island...
5 - RJ Elliott
Oh, and MANY countries do not allow Americans to purchase property...especially in Latin America...
6 - Mr. Real Estate
RJ wrote:
Those areas are sitting now. People who used to buy there have moved to Tampa, Orlando and Jacksonville.
Vegas has been sitting since last year.
7 - Mr. Real Estate
RJ wrote:
Many unreasonable countries, such as those with dictatorships, however, I have clients who own in China, and I'm also well-aware of the very lucrative up-and-coming European real estate market, where investors are buying waterfront condos in the equivalent of the $100K range.
8 - Pasha Tsiorba
Im glad to see more exposure about how important the global markets, especially European and Asian markets are going to play a role in real estate in the US in the coming years.
There is not doubt that this is a rare opportunity to take advantage of the weak dollar coupled with the drop in home prices to steal rare properties in the US at a very deep discount.
[Personal contact info deleted]