My Naples Florida Blog

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In today’s news, recently sold houses were analyzed and the market shows the highest increase in recent years of international purchasers buying US property. Naples, Florida is a top choice for foreign buyers. Below are the highlights of the article by RISMEDIA on May 20, 2011.  We agree and currently we are working with a Naples buyer from Canada and a Naples seller from Singapore.

· The U.S. continues to remain a top destination for foreign buyers as international purchases surged by $16 billion this year, one of the highest increases in recent years. This is according to the National Association of REALTORS®’ 2011 Profile of International Home Buying Activity.

· Canada was the top country of origin, with 23 percent of sales to foreigners. China was the second most popular country of origin, with nine percent of international sales this year. Tied for third were Mexico, the U.K., and India. Argentina and Brazil combined reported an increase in foreign sales with five percent, up from two percent in 2010. The top five countries of origin accounted for 53 percent of international transactions in 2011.

· Florida had 31 percent of total international transactions this year, the most of any state.

· Florida is most popular among South Americans, Europeans and Canadians.· Sixty-one percent of foreign buyers purchased a single-family home while 36 percent bought a condo/apartment or townhouse.

· 62 percent of international purchases were reported as being all CASH.

· The average price paid by an international buyer was $315,000 compared to the overall U.S. average of $218,000. However, 45 percent of international purchases were under $200,000.

· See the entire article here, http://tinyurl.com/Foreign-Buyers-Buy-Florida