International buyers are drawn to Florida real estate

The National Association of Realtors and the Florida Realtors recently conducted a survey of Florida agents. A total of 936 responses were received about their experiences with International buyers.According to a survey, the Sunshine State is attracting property buyers from across the globe due to plummeting prices...

Here are some of the highlights:

•Sixty-five percent said they worked with an international client in the past 12 months. One in five worked with two international clients, and 18 percent working with three or more.

•Half of the respondents said international clients accounted for 25 percent or less of their business; 15 percent said international homebuyers accounted for more than half of their business.

•One in three said that international clients were an increasing share of their customers in the past two years, while just under half noted that their share of international clients stayed about the same.

•Canada had the largest share of buyers, accounting for 36 percent of recent sales. Buyers from the United Kingdom accounted for 15 percent, and the rest of Western Europe accounted for an additional 14 percent.

•Latin America, defined for the report as Mexico, the Caribbean, Central America and South America, accounted for 16 percent. Specific countries with a small but significant share of sales included Germany (5 percent), Venezuela (3 percent), Brazil (3 percent) and France (3 percent).

•Eleven percent of foreign buyers bought a new home, while the remaining 89 percent purchased a previously owned home.

•Fifteen percent of buyers plan to use their property less than one month a year; 21 percent expect to use it one to two months; and 34 percent three to six months.

• Nineteen percent bought a home in the Orlando-Kissimmee area; 17 percent chose Miami-Ft. Lauderdale; 13 percent opted for Bradenton-Sarasota; and Tampa, Cape Coral-Fort Myers and Naples rounded out the top six with at least 5 percent of purchases.

Courtesy of  The Tampa Tribune

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