Foreign Buyers of Real Estate in Florida, U.S.A.

In the previous post we have established that in the U.S.A. some particular groups of the foreign buyers prefer to purchase properties in some particular states.

Let’s look at Florida as an example and find out the details that can be very useful if a Florida real estate seller (realtor, developer) wants to attract the foreign buyers to his property by proper real estate marketing.

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As the Florida Association of Realtors reports, the international buyers purchased more than 61 000 properties (which made up 15% of the Florida residential market) in the last year, and paid more than $24 billion for that. The median price of homes sold to foreigners was 18% higher than the locals spent on a home. 72% of the foreigners paid cash.

The following countries send buyers to Florida (in round numbers):

-Canada (both parts) – 22% of all international buyers in Florida
-Brazil – 7%
-United Kingdom – 6%
-Venezuela – 6%
-Argentina – 5%

Then Colombia, Germany, France, China, Mexico, Ecuador, Turkey, Israel, Russia, etc. follow. See, how many languages and cultures they represent?

You really have to choose your major marketing venues wisely. And knowledge of which national group of buyers prefers what Florida destinations, would definitely help you – for example, according the Florida Association of Realtors:

“In Miami-Fort Lauderdale-West Palm Beach area buyers are predominantly Latin American and Caribbean (46 percent), as well as Canadian (19 percent) and European, Russian including, (18 percent).

“In Orlando- Kissimmee-Sanford area buyers are mainly Latin American and Caribbean (37 percent), European (22 percent), and Asian (15 percent).

“In Tampa-St. Petersburg-Clearwater area there is a more even mix of buyers from Canada (32 percent), Europe (23 percent), Latin America and the Caribbean (17 percent), and Asia (17 percent).”

Etc. Where exactly is your property for sale located in Florida?

To start your international marketing, you have to research your own area in terms of which foreign buyers’ group or groups would like to purchase here and what language (s) they speak and search internet for properties to buy. Then your real estate marketing to these particular group or groups of the foreign buyers will be successful.

Happy blog reading,
Olga Kellen,
The Amazon Author
International Marketing Consultant and English-Russian Translator

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