Why Foreign Investors Choose Florida

Last year, Florida ranked no. 1 in the United States as a destination for foreign real estate investors, and that trend has continued into 2015, according to reports by the National Association of Realtors. According to NAR, a full 20 percent of foreign investors choose Florida to purchase real estate. Top cities in Florida include Fort Lauderdale, Miami Beach, Miami and Tampa. But the question is why these investors are so keen on Florida. Here is a look at why foreign investors choose Florida as a destination for buying real estate.

Overview

The basic reasons for purchasing Florida real estate for foreigners are similar to the reasons U.S. buyers choose Florida. Some are looking for a retirement home with excellent weather and a great, friendly climate for retirees. Others want a second home for rental properties or vacationing. Still more are looking for real estate investments to diversify their portfolios.

Great Conditions

As the South Florida real estate market continues to improve and stabilize, now is a good time for investors to get in on the game. While demand increases and prices rise, there is a scramble to buy up property while it remains available.
Foreign real estate investors see the wealth of profitable opportunities available in Florida and are taking advantage of the opportunity to buy affordable properties in an area known for entertainment and amenities.

Economic Considerations

The U.S. dollar is down on the world stage. This means that investors from other countries can get great deals and greater profit for their money when they buy in the States. Compared to the cost of real estate in Europe and other countries, property in Florida is a bargain. In addition, it costs far less to repair and maintain property in the U.S. This means that not only is it cheaper to buy property here, it is a better investment in the long term as well.

Ease of Purchase

Foreign investors love how easy it is to buy properties in the U.S. and especially in Florida. There are fewer permits, less red tape and the protection of title insurance. Such investors can even buy properties through proxy parties who have power of attorney to do so. This makes closing the deal from afar a breeze.

Proximity to Home

Finally, many foreign buyers, especially those in Europe, love how close Florida is to home. This allows them a beautiful home in an ideal location, while still allowing for proximity to friends, relatives and loved ones. The availability of educational and work opportunities is a bonus, which in some cases promises the opportunity to eventually relocate entire families to the United States.
These reasons only scratch the surface of why Florida is such a popular target location for foreign real estate investors. If you have any questions about the improving real estate market in Florida or the services we offer, email us at [email protected] or call (305) 901-5628 today.