According to last survey posted today by National association of Realtors about 25 % of new buyers in Florida are foreigners, an average in US this number drops to 3 %.
I want to discuss it. My company specialized in Luxury real estate. 80-90 % of our buyers are foreigners. Let's be more specific. Turnberry Ocean Colony, one of the best if not the best condominium in Sunny Isles out of last 10 sales counts 9 foreigner and one local buyer. According to Trump sales office at Trump Towers in Sunny Isles about 75 % of their Buyers are foreigners, this number is even higher at Trump Hollywood according to one of my colleagues at the sales office. I spoke to the manager at Europa by the Sea, Lauderdale by the Sea, about 60 percent of new purchases been done by foreign buyers. Two weeks ago I was in presentation of "One Thousand Ocean" condominium in Boca Raton, the sales office is trying to run complain and sale the project in NY. Sorry for not being original, the sale's office runs a presentation on the TV show "Sale NY". Make the story short. I could not get exact numbers, but my understanding was that most sales been made by foreign buyers.
I understand that real estate in Florida it's not only luxury condominiums and let's say Luxury Homes in Fisher Island or South Beach, but at least we need to understand where this numbers come from. I thing, that Florida Association of Realtors should states that these error margin should be not 5%, but 50%. My best guess, we have at least 40% foreign buyers in Florida and until banks won's start landing money to local buyers our statistics won't change.
Correct me if I am wrong, Sincerely, Igor Generalov, Global Realty Partners.
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