Foreign Investment in Florida Real Estate

May 18, 2006

Foreigners, mainly Europeans and Latin Americans, accounted for an estimated 15 percent of home sales in Florida between May 2004 and May 2005, according to a report conducted for the Florida Association of Realtors (FAR) by the National Association of Realtors (NAR).

These buyers flock to the Sunshine State for its warm climate and reasonably priced properties; and the weak dollar, direct international flights, and political and financial instability in their home nations also plays a role.

The statewide median single-family home price was $196,200 during the year-to-year period, but the “Profile of International Home Buyers in Florida” report reveals that the median price for foreign buyers was 52.4 percent greater at $299,000 over the same 12 months.

I have personally sold multiple properties to Europeans looking for a presence here in the United States. They were interested in diversifying their portfolios and taking advantage of the weak dollar. They may sell at a time in the future when the exchange rate is changed such that the dollar is stronger then the Euro. As of this writing the Euro to Dollar exchange rate is 1.2841. Click here for additional currency exchange information.

Because the Internet has fueled purchases by foreigners, I have created a website called www.sarasotainternationalrealestate.com were all properties for sale in Sarasota can be viewed in French, Chinese, Vietnamese, Italian, Portuguese, Russian, Korean, Polish, German, Japanese and Spanish. Because RE/MAX is doing business in so many countries, I have found that foreigners that I meet are comfortable working with me. Below are links to the websites for each country that RE/MAX is present:
Anguilla Antigua & Barbuda Argentina Aruba Australia Austria Bahrain Bahamas Belgium Belize Bonaire Botswana Bulgaria Canada Cayman Islands Chile Costa Rica Curaçao Croatia Czech Republic Denmark Dominican Republic England Estonia Finland France Germany Greece Grenada Guam Guatemala Honduras Iceland Ireland Israel Italy Jamaica Kuwait Latvia Lebanon Lithuania Luxembourg Malta Mauritius Mexico Namibia Netherlands Nevis New Zealand Nicaragua Norway Oman Panama Portugal Puerto Rico Qatar Saudi Arabia Scotland Singapore Slovakia South Africa Spain St. Barth St. Croix St. John St Kitts & Nevis St. Maarten/St. Martin St. Thomas Sweden Switzerland Turkey Turks & Caicos United Arab Emirates United Kingdom United StatesU.S. Virgin Islands Venezuela Wales Zambia


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