The South Florida real estate market is booming. This is not only true for domestic investors, but also for foreign investors, particularly those of Colombian, South American and Filipino descent. There are many reasons why these foreign investors are interested in South Florida’s real estate market, and some of them are more obvious than others.
The Conditions are Favorable
When it comes to owning property in the States, international buyers have several advantages. Demand for real estate properties in the South Florida market is increasing rapidly and prices are on the rise. If you are from the states, the weaker U.S. dollar could potentially hamper the scope of your investments in real estate properties. However, investors from international countries can take advantage of the combined weak U.S. dollar and high prices in South Florida, to earn a greater profit.
In comparison to the prices in their home country, foreign investors can often buy more real estate for their money in U.S. markets, particularity in South Florida. Maintenance and repair costs are also usually lower here which helps curtail costs for foreign investors. International investors find it cheaper to purchase properties in South Florida than in their home country, and they find the return on their investment to be greater.
Experience an International Destination in the United States
Buying real estate in South Florida is a wonderful opportunity for foreign investors due to South Florida’s proximity to international countries, particularly South America. Many foreign investors already have relatives and friends that live in South Florida and find they can take advantage of employment and educational opportunities when they own property in the area.
Additionally, a foreign investor does not have to be present in South Florida when purchasing property, and can even manage it while living in their home country. A foreign investor can easily find a representative in South Florida and give them Power of Attorney, allowing their representative to close a deal on their behalf.
Overall there are many great reasons for foreign investors to look into purchasing South Florida properties. Real estate investments enable foreign investors to invest money both safely and profitably as well as lay a monetary stake in the United States.