It appears that the foreign investors are back! Considering the discount prices on us real estate and the weak dollar, foreigners from Canada to China are snatching up values for cash all over the US. In a National Association of Realtors report released in July, 28 percent of Realtors reported they had worked with at least one international client, up from 23 percent a year earlier. Of those Realtors, 18 percent had completed at least one transaction with an international buyer, compared with only 12 percent in 2009.
See the 2010 NAR Profile of International Home Buying Activity
Southwest Florida has been seeing its share of foreign buyers and we would expect this trend to continue as fears from the Gulf oil spill continue to dissipate. The southwestern coast of Florida holds 4 of the top 6 most active florida markets for international buyers. Buyers from Canada, United Kingdom, Germany and Latin America seem to make up the majority of foreign investors in Southwest Florida. However, we will likely see more eastern European and Chinese investors trickle in. Who could blame them? SWFL real estate has seen a dramatic price reduction after leading the nation in appreciation through the real estate boom. There was a reason that people were buying here before. Because it's PARADISE!
For the whole story, see Foreign buyers see big opportunity in housing bust » Marco Eagle
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