The diminished value of the U.S. Dollar is still offering the opportunity to make money for foreigners who invest in real estate in Florida.
With the rise in short-sales and foreclosures, foreign investors are able to buy properties for a low cost. Investors are able to buy a multi-family home for the cost of an efficient apartment in their own country.
In addition, because many Floridians are now renting instead of buying, there is an opportunity to make a true investment that will gain profit not only from an eventual resale, but also through renting out properties such as condos, which many foreign investors are buying in bulk.
Management and repair costs are also lower in Florida than in many foreign countries. Foreign investors who rent out some properties are estimated to receive a 10-15% return rate.
Even if you are looking to buy a second home on one of Florida’s sunny beaches, renting the property out on a seasonal basis can still result in profit gain (not to mention a nice place to get away.)
Foreign investment in Florida is becoming more popular, and, as a result, the number of properties available is diminishing, and the price of these properties is expected to increase as the demand does. The trend is already in full affect in South Florida areas such as Miami, and it is expected to be replicated in other coastal areas of Florida in a South to North pattern.
Sources: Condo Owner, Equity First
