According to the National Association of Realtors, foreign buyers accounted for $82.5 billion spent in the residential real estate market for the twelve month period ending in the first quarter. That equals about 8.9% of all residential real estate transactions. Investors from Canada, Asia, Europe, and Latin America are all eager to invest their money into U.S. real estate. The weakness of the U.S. dollar compared to some currencies is an additional market factor as to why some investors like the odds of what some claim to be a “risky bet”.
Recently SI Real Estate has seen an increase in rentals which stems somewhat from the hesitant nature of Americans when it comes to home buying. With rental rates increasing, investors will be presented with an even more favorable outlook when it comes to their returns on buying a home and turning the keys over to someone else to manage. Savvy foreign investors are beginning to invest their money for real estate in cities or areas with highly desirable rentals located in a walking friendly environment. More and more renters are looking to cut expenses, and gas is a major one. Cities with good “walking scores” like Tampa, Florida’s Hyde Park, Westshore, Channelside, and Westchase are target markets for these investors.
Whether you are a prospective home buyer or a foreign investor, the best time to buy is quickly passing. Why wait until mortgage rates climb from the near historical low rates we are all enjoying now? With mortgage applications rates being the highest they have been since 2009 and inventory finally diminishing, your opportunity is now. Contact SI Real Estate for more information on how you can become a home owner in the most opportune of real estate markets.
SI Real Estate offers highly personalized, multilingual, full-spectrum real estate purchase and sales services. We are a boutique for sophisticated investors, select owners or renters who may be upgrading locally, or those making traditional relocations. We also provide turnkey landlord and tenant management. Blending comprehensive insight into the Tampa Bay area with international perspectives for a worldwide clientele, we like to think that “SI Real Estate is Global Real Estate in Every Way!”