Florida has been a prime destination for nightlife, leisure and fun by the beach for years. While many come for the vacation of a lifetime, many business investors from overseas is seeing the lucrative potential of South Florida. Ever since the expansion airport, more flights have come in from many other places around the world. More and more diverse and international visitors have taken great interest.
Buyers From Abroad
As sales improve in Florida, there is a pattern between the increase and buyers from overseas. A survey conducted by the National Association of Realtors found that sales went up from $6.2 billion to $7.2 billion throughout the region between August 2016 and July 2017. The survey also found that the top buyers were from other countries. Many of them came from countries such as Argentina, Brazil, Canada, Colombia and Venezuela. Florida counties like Fort Lauderdale and Palm Beach were found to have even more foreign buyers than Miami. It’s obvious buyers from overseas have taken a serious interest in South Florida.
Although Miami is a popular spot to vacation in, overseas buyers don’t feel the need to invest. Many of them are less attracted to the city life and instead choose to buy properties in the upper regions of South Florida. Spots like Fort Lauderdale and Boca Raton offer a quieter and less populated lifestyle. The warm weather and leisure lifestyle these countries offer is a dream for most buyers coming from abroad. Most notably, unlike the real estate found in Miami, it’s a the prices are much better.
The northern counties of South Florida offer waterfront properties at a fraction of the price in Miami. Buyers from overseas fly into Fort Lauderdale, fall in love with lifestyle and even more even love with the price of the properties. Buyers can buy a new property with luxury amenities for just $850 to $900 a square foot. Many people from Europe, Canada and South America are taking advantage of these affordable prices and creating a home away from home in Florida. Realtors are seeing more and more abroad buyers looking from homes and property to buy.
Fort Lauderdale and other surrounding counties are becoming prime real estate destinations for foreign buyers. South Florida should be seeing even more buyers all around the world flock to the beautiful beaches and affordable luxury homes.