Tuesday, September 21, 2010

International Real Estate Investors Find Florida Real Estate Irresistible

International buyers of real estate are purchasing homes, townhomes and all types of properties here in Tampa, Florida, and around the state. Tampa has long been known to be a destination city due to the abundance of sunshine, beautiful beaches, a world-renowned international airport, and world-class entertainment and amusement parks. Florida has a history of attracting European, Canadian and South American buyers due to its proximity to these countries. According to International Interest in U.S. Homeownership Increases, Realtors® Report, a recent article published by the National Association of Realtors®, “International buyers were reported in 39 states in 2010, but a slight majority of the total buyers are concentrated in Florida, California, Arizona and Texas. These four states account for 53 percent of purchases and have remained the top destinations for the past three years, with Florida and California remaining the top two destinations.”

“A large majority of Realtors® report the changes in value to the U.S. dollar have had a strong impact on the international real estate business. In addition, perceptions abroad about trends in the U.S. Real estate market have led many international clients to believe purchasing a home in the U.S. is more affordable than in their country and holds more value.” Many Realtors indicate that they have worked with at least one international client in the past year, which is up from 2009. Between April 1, 2009 and March 31, 2010 foreign buyers have purchased $66 billion of U.S. residential property which equates to 7 percent of the U.S. residential market.

Tampa will continue to be a strong attraction to international real estate investors as a large percentage of properties that are for sale today and that will be coming on the market will be at phenomenal prices. “The strength of the dollar, the value and desirability of U.S. real estate, and the emerging economic recovery, continue to drive international interest in owning a home in this country.”

So, while some buyers may be sitting on the fence wondering when the real estate market will bottom out, international real estate investors are buying up Florida real estate. Those still sitting on the fence will look back and wonder, “Why did I wait so long?”

Call SI Real Estate today to find out how to invest in Tampa, Florida real estate. As our tag line illustrates, SI Real Estate is “Global Real Estate in Every Way!”

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