Foreign buyers are eyeing property in the US now more than ever with a $16 billion surge this year in international purchases. Total residential international sales in the US amounted to $82 billion in the year ending in March 2011, up from $66 billion in 2010.
“The U.S. has always been a desirable place to own property and a profitable investment,” said NAR President Ron Phipps. “In recent years we have seen more and more foreign buyers coming here to take advantage of low prices and plentiful inventory. In addition to the advantageous market conditions, REALTORS® in this country have a global perspective and experience in working with clients from different cultures and real estate practices, helping them bring value to their international clients.”
Why are foreign buyers so attracted to property ownership in the US? Take a pick. Primarily, homes in this country tend be a secure investment. You have the opportunity to rent. There’s the potential for long-term appreciation in value. In a different aspect, recent immigrants get a fulfillment in becoming established in this country when purchasing a home. More demand has come from a significant number of international students attending US colleges. Some families are purchasing property in college areas so their children have a place to live.
What makes this relevant to our market is that Florida had 31 percent of total international transactions this past year, almost three times as much as the next state. There are three primary factors foreign buyers mull over when deciding where to buy in the US: proximity to their home country; convenience of air transportation; and of course climate and location. Florida is most prevalent among South Americans, Europeans, and Canadians. Canada alone accounts for 23 percent of the total international sales.
All this does is point out that Florida is #1 amongst foreign buyers. Once you realize Florida is where you want to invest in, it won’t be long before you realize that the Central Florida / Disney Area is the prime location. Mickey Mouse certainly plays a starring role in the festivities surrounding Orlando, but there’s plenty of magic beyond the realm of Disney.
The only thing that remains is contacting us to help you find the perfect property for you. Whether you’re looking for a new home to live in, a vacation home, or an investment opportunity, we’re here to help!