Profile of International Buyers in South Florida

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Profile of International Buyers in South Florida
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Most international buyers come fromCanada, Latin
America, and Asia.
International Buyers Are Becoming a Larger Player
in South Florida Real Estate International
buyers pay higher prices for their
properties. The devaluation of the American
dollar means foreign buyers money goes further,
a contributing factor to foreigners investing in
Florida properties.
31 of Florida realtors report that transactions
with foreign buyers has been on the rise since
2008.
80 of the foreign buyers said Florida properties
were a good deal compared to similar properties
in their home country.
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Foreign Buyers Plan to Use Their Properties
Only Part-Time Most foreign
buyers plan to spend less than six months
per year in the property.
Foreign buyers invest in properties for vacation
homes, rental properties, or both.
35 of South Florida homes sold to foreign buyers
are used as vacation properties.
26 are used as rental investments.
Only 4 are bought as retirement homes.
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Foreign Buyers Are More Likely to Pay Cash than
U.S. Buyers
90 of Canadian buyers paid cash for their
properties.
82 of Brazilians paid cash.
77 of Venezuelan buyers paid cash.
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Foreign Buyers Pay More for Their Properties
American buyers pay a median price of 144,074
for their Florida homes. Canadian buyers paid
the least of all foreign groups for their
properties, with a median price of 200,000, but
well above averages for U.S. citizens.
Venezuelans paid significantly more for their
properties, with a median home price of 388,338.
The median price for buyers from the United
Kingdom was 206,250.
All foreign groups paid a higher median price
than American buyers.
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South Florida Realtors Are Depending More on
Foreign Business
31 of all Florida realtors said business was up
with foreign buyers.
Out of 327,350 properties sold in Florida during
the past year, foreign buyers purchased 22,572 of
those properties.
Out of 74 billion in real estate sales during
that period, 6.4 billion came from foreign
buyers.
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Realtors Are Learning What Kinds of Advertising
Attracts Foreign Buyers
Traditional TV ads and signs arent as effective
in winning foreign clients because they simply
dont see them or cant understand them.
Contacts and referrals were most effective for
real estate agents working with foreigners.
Online ads are more effective at attracting
foreign buyers.
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Foreign Buyers Are Looking for Certain Things
When It Comes to Purchasing Properties
Location remains the most important aspect of a
sale.
Foreign buyers also look for the type of
lifestyle the property affords them.
Foreign buyers are interested in the culture of
the area, as well as what attractions the
property offers.
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Foreign Buyers Do Not Typically Live in Their
Property Full-Time Many international buyers
are interested in the security afforded by
townhomes and condominiums.
34 of foreign buyers purchase condos
11 buy townhouses
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All statistics and facts sourced from Florida
REALTORS Profile of International Home Buyers
in Florida 2013 Report
http//www.realtor.org/sites/default/files/reports
/2013/Florida-International-Buyers-report-2013.pdf