Florida has led the nation for years in purchases of homes by foreign buyers - one in four of the national total. According to a July survey by the National Association of Realtors of its members, foreign buyers accounted for 32% of home sales in Florida in the prior 12 months, up from 29% in 2008. A weak dollar coupled with discounted real estate prices make Florida even more of a bargain for international buyers.
| Foreign Buyers of U.S. Real Estate |
|
| Top States' Share of Foreign Buyers | |
| Florida |
23% |
| California |
13 |
| Texas |
11 |
| Arizona |
7 |
| Florida's Share of Foreign Buyers |
|
| United Kingdom |
47% |
| Latin America |
45 |
| Europe |
33 |
| International Buyers in Florida by Region |
|
| Canada |
26% |
| Latin America |
23 |
| Western Europe (excluding U.K.) |
22 |
| United Kingdom |
16 |
| Eastern Europe |
5 |
| Market Share of Foreign Buyers in Florida |
|
| Miami-Fort Lauderdale- Miami Beach |
27% |
| Bradenton- Sarasota-Venice | 11 |
| Orlando-Kissimmee |
11 |
| Tampa-St. Petersburg- Clearwater |
8 |
| Cape Coral-Fort Myers |
5 |
| Naples-Marco Island |
5 |
| All other areas in Florida | 32 |
| Source: National Association of Realtors |
While many of us in the industry have seen our share of International buyers over the years, the fact that the demand for Florida real estate has not waned over the last couple years only proves that, over the long term, Florida real estate is still a good investment. If you look at average prices in some of our largest "feeder" areas, like Canada and the UK, you can see why Florida real estate is considered such a bargain. The September 2009 Coldwell Banker Home Price Comparison Index shows that International home prices are MUCH higher than Florida prices. I've included some examples In U.S. Dollars:
Vancouver, BC average home price - $1,174,241
Toronto, Ontario average home price -$766,643
Dublin, Ireland average home price - $1,127,843
London, England average home price - $485,625
All of UK average home price - $257,105
When you consider that the average home price in Florida is around $138,000, our real estate is cheap by comparison.
Steve Eckhardt, Broker, Luxury Real Estate Professional
Contact me at (813) 765-1182
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Hi Steve....Gotta love the out of towners...HNY
Gary D for Denver
Thanks for the reminder about foreign real estate buyers. Charlie Gantz, Greenwood, IN; J.D., M.B.A.; Owner/Principal Broker, Atlas Commercial Real Estate, LLC
I just put a comment on Great 3bdrm House With Fenced Yard! This is a house bigger than most Brits will have back in the UK. With the exchange rate today that would be about 75,000 pounds. THAT'S A STEAL!