Growing Number Of Real Estate Buyers From Abroad
The continued decline in the U.S. dollar, coupled with falling home prices are turning America’s second home market into a fire sale for some foreign real estate buyers. Not only can buyers from abroad cash in with stronger currency, falling domestic home prices and short term vacation rental income helps seal the deal.
In Florida, a growing number of buyers are foreign. When compared to western Europe and Asia, Florida home prices are a bargain. According to NAR’s “They Come To America — To Buy Homes,” in 2006, 65 percent of Florida real estate agents had at least one international customer and the trade group’s “Profile of International Home Buying Activity” indicated that at least 7 percent of 2006 home sales in Florida were to foreign purchasers.
search for : foreign real estate buyers
