2009 showed a definite trend in real estate investing - buy old fashioned locations. France is leading the way in popularity for UK real estate buyers. Spain was number one last year and slipped very little to number two. Turkey, Portugal, Italy and Bulgaria are on the rise as well. However interest in overseas real estate investment is much colder with UK buyers in 2009. US and especially Florida was number 4 in real estate investment popularity last year with 9% of total property inquiries, but in 2009 US generated only 1% of inquiries and slipped to number 7. So old fashioned investment locations like France and Spain prevailed with UK buyers.
It is no wonder to me though, because UK buyers follow the same patterns as US buyers - they need mortgages; they are looking to put as little down as possible, sometimes with very unrealistic expectations; they are looking for unreal reates in present mortgage market first and then grudgingly accept the inevitable - 7% interest rate at best. Foreign national programs got worse in 2009 with many banks just curbing foreign national financing completely.
So who is the foreign national buyer of Florida and Naples real estate - the one with CASH, plain and simple. Is there a shortage of those buyers? Not really. But they buy either a super foreclosure deals or middle market homes, mostly $250-300K range. Leads are abundantly coming with global internet marketing. Naples real estate sales to foreign nationals increased dramatically these days and I hope it will stay that way for a while. Today I have talked at length about Naples real estate investment opportunity to two Brits, a Canadian and a Russian. All came from my website marketing. Not bad for Sunday. By the way, it's interesting that a Canadian and a Russian immediately discussed arrival plans to Naples within a month or less. The Brits were vague and uncertain. Maybe early next year. So here is the deal - market in UK, but do as much or more elsewhere in Europe and Canada.
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