Foreign Investors Not Scared of Housing Market At All
The word is out…real estate in Tampa Bay and around Florida is a hot commodity for foreign investors! Not only is the weather hot in Tampa, Florida, so is the real estate market. International investors from Argentina, Canada, Colombia, France, Israel, Italy, Norway and Venezuala are swarming to Florida for what they see as irresistible real estate deals. According to msnbc.com’s recent article, Foreign Investors Not Scared of Housing Market , “For the international investor class, the United States’ bloated inventory of homes, high unemployment and weak currency make for an unusually attractive buyer’s market.” Peter Zalewski, founder of Condo Vultures, a consulting and brokerage firm stated, “I have never seen such a high concentration of foreign nationals acquiring real estate. Eighty percent of the sales in downtown Miami are foreign-based. This is unprecedented.” And Miami is not the only “hot spot” for international real estate investors. Surges have been seen in Tampa, Washi...