International buyers are setting their sights on Florida vacation property and investment real estate. While 18 percent of real estate agents nationwide closed at least one home sale for international buyers in 2006, a whopping 65 percent of real estate agents in Florida sold second homes to foreign buyers during the same time period, according to the National Association of Realtors (NAR) Profile of International Home Buying Activity.
The NAR report found that Florida led the nation in international home buying, with 26 percent of all foreign buyers purchasing vacation homes or investment properties in the Sunshine State.
Why do international buyers choose investment properties in Florida?
In this buyer’s market, the most compelling factor leading international investors to buy Florida real estate is their increased purchasing power and the selection and availability of real estate for sale in all price points, from luxury vacation homes, single-family homes, and condos for sale.
“The word is out: this is a great time and Florida is a great place to find deals on second homes, vacation homes and rental investment properties,” says Amy Stier, managing broker for Florida New Homes Realty. “European and South American buyers are looking to pick up bargains in primary areas that make sense for long-term investment. Compared to home prices in many European real estate markets, Florida homes are really affordable right now.”
Many of the same reasons Florida remains a favorite vacation destination for travelers from Europe, South America, Canada and Mexico, also make the state a good place to buy a second home.
“Accessibility is important for international buyers, and it’s easy and convenient to travel to Florida from Europe and South America,” notes Stier. Florida’s 31 major airports and 14 deep water seaports support the more than 4 million international tourists that visit from more than 100 countries each year.
Stier stresses that many international corporations also find Florida an appealing place to do business. With branch office locations in many Florida cities, “business travelers can incorporate some leisure and fun into their work agenda,” Stier says. “Some choose to buy a second home in Florida to live in while they’re here and to serve as the vacation home for their families.”
“Our international clients appreciate the weather, beautiful beaches and year-round recreational opportunities,” says Stier, ”and with the mix of international cultures and ethnicities, foreign buyers feel comfortable and right at home living in many of our metropolitan areas.”
Want to know more about Florida vacation homes and real estate investment properties? Florida New Homes Realty stands ready to assist you with all facets of the home selection, purchase and closing process. Contact Amy Stier - Florida Managing Broker, or Brian Meyerowitz, a professional buyer’s agent who holds the Certified International Property Specialist (CIPS) and Transnational Referral Certification (TRC) designations.
Amy Stier, ABR, RSPS, CIPS Candidate Florida Managing Broker Florida New Homes Realty, Inc. 1-800-251-9595 astier@newhomes.com
Brian Meyerowitz, MBA, ABR, C-CREC, CIPS, E-PRO, GRI, RFC, TRC Buyer’s Agent - Broker Associate Florida New Homes Realty, Inc. 1-800-251-9595 brian.meyerowitz@newhomes.com
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The Author: Sandra Tuell Website: http://www.newhomes.com About: As weblog author for Homes Advisory, the blog for New Homes Realty, Inc., Sandra Tuell covers topics that run the real estate gamut, written expressly for the home buyer. On the blog, home buyers will find practical information and advice on preparing their existing homes for sale, enlisting the services of a buyer’s agent, searching for new homes, making an offer and closing the transaction. Sandra regularly presents real estate news from the perspective of how events will impact home buyers and the real estate industry in general. Trained as a journalist, Sandra stepped into the real estate industry as an accredited home staging specialist, interior arranger and color expert. Since March 2007, Sandra has researched, commented on and explored happenings in the real estate industry, including home building, home mortgages and financing, real estate investing, and the economy. With a passion for all that is pertinent to the design, comfort, livability and marketability of the home, Sandra also provides tips and insights for homeowners who wish to maximize the potential of their personal spaces and turn their new houses into homes. For the past four years, Sandra has operated her own interior arrangement and home staging company, Roomscapes, servicing clients in Pinellas County, Florida. Previously, Sandra worked in the corporate world as a marketing professional, applying her creative energy in a variety of roles including advertising, promotions, special events planning and web content creation. Her current position as a writer for New Homes Realty allows her to bring together her love of design and her educational training as a journalist. "It's really the best of both worlds," says Sandra.
This entry was posted by Sandra Tuell, on Wednesday, July 30th, 2008 at 9:14 am and is filed under International Home Buyers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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