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Date Created: 12/22/15
Profile of International Buyers in South Florida Most international buyers come from International Buyers Are Canada, Latin America, and Asia. Becoming a Larger Player in South Florida Real Estate International buyers pay higher prices for their properties. The devaluation of the American dollar means foreign buyers’ money goes further, a contributing factor to foreigners investing in Florida properties. 31% of Florida realtors report that transactions with foreign buyers has been on the rise since 2008. 80% of the foreign buyers said Florida properties were a good deal compared to similar properties in their home country. Foreign Buyers Plan to Use Their Properties Only Part-Time 35% of South Florida homes sold to foreign Most foreign buyers plan to spend less than six months buyers are used per year in the property. as vacation Foreign buyers invest in properties for vacation homes, rental properties. properties, or both. 26% are used as rental investments. Only 4% are bought as retirement homes. Foreign Buyers Are More Likely to Pay Cash than U.S. Buyers 90% of Canadian buyers paid cash for their properties. 82% of Brazilians paid cash. 77% of Venezuelan buyers paid cash. Foreign Buyers Pay More for Their Properties The median price for buyers from American buyers pay a median price of $144,074 for their Florida homes. the United Kingdom was Canadian buyers paid the least of all foreign groups for their properties, with a median price of $200,000, but well above averages for U.S. citizens. $206,250. Venezuelans paid significantly more for their properties, with a median home price of $388,338. All foreign groups paid a higher median price than American buyers. South Florida Realtors Are Depending More on Foreign Business 31% of all Florida realtors said business was up with foreign buyers. Out of 327,350 properties sold in Florida during the past year, foreign buyers purchased 22,572 of those properties. Out of $74 billion in real estate sales during that period, $6.4 billion came from foreign buyers. Realtors Are Learning What Kinds of Advertising Attracts Foreign Buyers Traditional TV ads and signs aren’t as effective in winning foreign clients because they simply don’t see them or can’t understand them. Contacts and referrals were Online ads are more effective most effective for real estate at attracting foreign buyers. agents working with foreigners. Foreign Buyers Are Looking for Certain Things When It Comes to Purchasing Properties Location remains the most important aspect of a sale. Foreign buyers also look for the type of lifestyle the property affords them. Foreign buyers are interested in the culture of the area, as well as what attractions the property offers. Foreign Buyers Do Not Typically Live in Their Property Full-Time 34% of foreign buyers purchase condos Many international buyers are interested in the security afforded by townhomes and condominiums. 11% buy townhouses Since 2011, Decorus Realty has specialized in luxury real estate and commercial investments. Focusing on the lucrative real estate market of South Florida, Decorus Visit the website to learn how Decorus Realty can serve you. offers a variety of services, including assets management, financial http://decorusrealty.com/ services, and property management. All statistics and facts sourced from Florida REALTORS Profile of International Home Buyers in Florida 2013 Report http://www.realtor.org/sites/default/files/reports/2013/Florida-International-Buyers-report-2013.pdf
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