Which state came out on top when it comes to interest among foreign buyers? If you guessed Florida, you are correct! It remained the biggest destination for overseas purchasers for the 12th straight year, with a 22 percent share of all international sales.
According to a National Association of Realtors (NAR) report, the Sarasota-Manatee metro region ranked fifth in Florida as an international buyer destination with a five percent share. Perhaps not entirely surprising, Miami-Ft. Lauderdale-West Palm Beach earned the top spot with 53 percent, with Orlando-Kissimmee-Sanford following closely at eleven percent, Tampa-St. Petersburg-Clearwater at seven percent and the Cape Coral-Fort Myers at 6 percent.
As for which country was seeing the greatest interest, Canada was number one among foreign Florida buyers with over $3 billion followed by Brazil ($1.6 billion), Argentina with over $1 billion, and Venezuela with a cool $900 million. These buyers may be particularly attracted to Florida’s undemanding laws regarding tax.
To read more, visit https://www.floridatrend.com/article/30022/sunshine-state-still-leads-us-as-top-spot-for-foreign-home-buyers. Whether you’re a foreign buyer or a local buyer seeking quick money to fund your Florida real estate purchase, Monroe Funding Corporation is here to help.
This update is by hard money loans Miami company Monroe Funding Corporation, a direct equity lender serving clients throughout Central and South Florida. We specialize in first mortgages on non-owner occupied residential and commercial property investments as well as real estate loan options. Our fast and flexible loan programs get you to the closing table quickly and professionally. For more information on investor resources Miami or Tampa hard money lending, please call 954-816-0388 or fill out our application.