Whether you’re a foreign buyer looking for a vacation home, investment property or semi-permanent residence to bask in the Florida sunshine for more than six months of the year, there isn’t a better time than now.
Since the housing bubble burst, prices have dropped by more than 50% in many parts of the state. A typical Florida home that sold in 2006 for about $260,000 now sells for less than $140,000. As they say here, “You can get a lot more home for your buck!”
By comparison, houses in Europe, Canada, and Latin and South America are much more expensive.
Those in the know are taking advantage of the favorable real estate climate. At 26%, Florida accounts for more than a quarter of all international sales in the United States, more than the next three largest sunshine states – California (11%), Texas (7%) and Arizona (7%) – combined!
In 2011, international buyers accounted for $82.5 billion in U.S. property sales, up 24% from $66.4 billion the previous year.
Why not join them for your place in the sun?