South Florida Dominated by Foreign Buyers

Real Estate Blog Article

Tuesday, November 03, 2009
It’s been said and proven that foreign buyers are integral towards bringing the Miami Beach real estate market back to normalcy yet they’re having just as difficult a time if they don’t have the actual cash on hand to purchase. Considering that some buyers are accounting for nearly sixty percent of sales, this does create a slight problem.
 
We all know that the weak dollar and reduced prices for Miami Beach real estate have been contributing factors towards the increased presence of foreign buyers (particularly those from Latin America) now that prices are within reach for a broader buying audience. In fact, some realtors are actually taking the initiative and traveling to other countries in order to educate and present all of the buying opportunities in South Florida, Miami Beach being one of many desirable areas carrying premium price tags.
 
In some situations it’s now more affordable to purchase an apartment in a city like Miami than it would be to own in one’s native country. Considering that the price for Miami Beach condos and general Miami real estate remains in the $200,000 range, more realtors may be more willing to go out of their way towards finding buying solutions for these foreigners that are helping to return the market to its former glory.
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