Why Foreign Buyers should buy in Florida – Tampa in Particular

A recent article in Forbes.com showcased homes from all over the world which can be bought for $1 million. In metropolitan European cities like London and Paris, this specific amount gets the buyer a one-bedroom apartment near the center of the town. In comparison, a cool million dollars get the buyer a mansion in a master-planned community  in sunny Tampa.

And if one takes into consideration the decreasing value of the dollar in world market, it would be not hard to see how attractive real estate investment is to foreign buyers.

Even if general sale of residential properties have markedly slowed down, foreigners would still have a lot to gain when they decide to purchase a property in Tampa. Apart from the prospect of owning a house in one of the most popular holiday destinations in the country (Clearwater and St. Petersburg are both within 30 minutes from Tampa International Airport), foreigners have a lot of property options waiting for them. With the high number of inventory, they can choose to snap up single-family or multi-family properties, be it in near the waterways or a bit inland, or they can decide to purchase a waterfront condominium or two for investment purposes.

In fact, purchasing Tampa properties as investments can never be as favorable as now, when the market is poised to recover from a dismal year and with the still overall economic stability of the state of Florida and of the rest of country. It is this prospect of recovery that more business-savvy buyers are looking into, coupled with the eagerness of most sellers to unload their properties at the soonest time possible.

The huge inventory of unsold properties also leads to the possibility of making a purchase at a discounted price, with sellers and agents up to their ears in competition to make sales.

And do real estate developers and agents stand to lose in this scenario? Not really, as the influx of foreign buyers and savvy investors is expected to balance and even jump start real estate sales, paving the way for a recovery of the overall industry.

Ref: Tampa Luxury Real Estate

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