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Southwest Florida Attracting International Buyers

Posted by Benjamin Dona on Wednesday, September 9th, 2009 at 4:08pm.

Southwest Florida Attracting International Real Estate BuyersInternational clientele are once again making up a significant number of the buyers for the Southwest Florida real estate market. In fact, in Naples, 25% of the population (double the national average of 12%) are foreigners.

According to a recent survey conducted for the Florida Association of Realtors, a majority (54%) of Florida agents worked with an international client within the past 12 months and over 10% of them worked with 11 or more international clients in the same time period. The top international buyers for Southwest Florida real estate included Canadian, British and German foreign nationals who happen to have an advantage at the moment as their exchange rate favors their currency and provides them with increased purchasing power.

Other survey highlights included:

  • 86% of international buyers bought an existing home and 14% opted for a new construction.
  • 52% chose a single-family detached home and 34% chose a condominium.
  • Foreign nationals were responsible for approximately 32% of the new and existing home sales in Florida over the last twelve months.
  • The top two reasons international buyers gave as to why they chose to buy in Southwest Florida were they found it to be a desirable location and a potentially profitable investment.
  • The top reasons given for not buying included not being able to find financing, property taxes and stricter U.S. immigration laws.

Agents working in Southwest Florida should take heed of these survey results and be prepared to work with the challenges facing international buyers in order to be able to assist them when the opportunity arises.

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6 Responses to "Southwest Florida Attracting International Buyers"

Lisa Udy wrote:
I wish we had some international buyers here in my market. We don't have very many foreclosures here though, and it seems like that's what they are looking for.

Posted on Friday, September 11th, 2009 at 5:06pm.

Benjamin wrote:
They definitely are always looking for a deal!

Posted on Friday, September 11th, 2009 at 5:29pm.

Jim wrote:
yes there are numbers of international buyers and they keep on looking for a deal.

Posted on Monday, September 14th, 2009 at 11:05am.

Sarah wrote:
I just received a call a couple days ago from an investor from MD who wants to buy a 30-40 unit apartment complex here in Dallas. I am so excited to work with him, but I feel it may be a challenge, since he's from out of state. Wish me luck ;-)

Posted on Monday, September 14th, 2009 at 2:38pm.

Ivan wrote:
Precisely, it's true that real estate sales increase is due to a lot of international buyers or just we can say foreigners that investing to real estates not only here in Florida but in many parts of the U.S.

Posted on Thursday, September 17th, 2009 at 11:55am.

Benjamin wrote:
Hey Mike,

You got a ton of our folks over the last few years.

Most of our construction workers left for Texas right after the bust here in late 2006.

My guess is they couldn't afford to buy a house though, having been out of work for a while. Either that or their credit was shot from walking away from their homes here.

Posted on Saturday, September 26th, 2009 at 9:32am.

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