The Illusion of Foreign Buyer’s in the Bonita Springs Real Estate Market
The headlines make for great copy - “The British Are Coming”, “International Buyers Flock to Florida”, “Foreign Buyers Scoop up Florida Real Estate”. There has been enough coverage of the alleged foreign invasion to actually convince the public that it is largely true. Many people have been led to believe that Florida is so full of Foreign Nationals buying up real estate that it could snap off and sink into the Gulf of Mexico.
Listen, I don’t doubt for one minute that we still have our usual amount of European buyers. We may even have a few more Canadian buyers. What I do doubt is a marked increase simply because the dollar is weak against the currency of a few particular countries. Just because there is leverage against a Foreign National’s currency, it doesn’t mean they are taking full advantage of it. The are many more economic conditions that influence a buyers ability and willingness to buy real estate besides the value of their currency against the US dollar.
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