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Active Foreign Buyer Market in South Florida

A recent report prepared by CondoVultures.com shows that international buyers are pending an average of $318 million – mostly in cash – each month purchasing residential real estate in South Florida. The National Association of Realtors released a report that shows investors from Latin America, Canada and Western Europe bought more than $3.8 billion worth of residential real estate in Miami, Fort Lauderdale and Miami Beach alone in 2010. More than 86% of those buyers also paid cash. If lenders made it easier for international buyers tofinance, we would see even more investment in South Florida. Local buyers would also benefit from less stringent lending practices and fair appraisals.

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