Despite the U.S. housing meltdown, international home buyers are still interested in U.S. residential real estate, and among their most desired cities for real estate investments are ten Florida cities.
According to international inquiries made on Trulia from January to March this year, among the top 24 favorite cities were the following 10 Florida cities:
- Cape Coral
- Fort Lauderdale
- Fort Myers
- Miami Beach
Based on various reports, international buyers prefer Florida cities because of the following:
- They believe that Floridians are friendlier to immigrants and non-citizens.
- Since Florida is a favorite tourist destination, they think that their profit prospects for their investment properties are greater.
- They like that the sun shines throughout the state nearly all year round.
- Waterfront homes abound in Florida. Foreigners like lakeside and beachfront homes because of their potentials as vacation homes, rental homes or second homes.
- Florida homes have become very affordable, with their average prices lower than those in other states. Foreign buyers are looking at prices between $100,000 to $300,000, with a number of them looking at higher figures in high-end communities.
- Foreign businesses with future plans of operating in the U.S. are also looking at Florida because of its business-friendly policies.
- Certainly also, the foreign exchange rate is favoring international buyers, as their money can buy more dollars these days than before the housing meltdown.
The countries with the highest number of people looking for homes in the U.S. are the following:
- Great Britain
The National Association of Realtors, in its report released last year, said that 22 percent of all U.S. real estate properties sold to foreign buyers were located in Florida, with Europeans and Canadians preferring Florida real estate. Nationally, Canadians were the top foreign buyers, accounting for nearly one-third of all international buyers.
Trulia said that foreigners spent about $13 billion on Florida homes last year, almost one-third of the S41 billion spent on U.S. real estate in 2010.
In Tampa, foreign buyers are attracted by its waterfront homes, huge home price discounts, and diversity. Homes are near lakes, rivers, beaches or protected woodlands, but at the same time near arts facilities, universities, restaurants, zoos, theme parks and festival areas.
For help in finding affordable Tampa real estate, contact the friendly real estate professionals of Tampa4U.com.