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Just How Important are International Sales in Florida?
Just How Important are International Sales in Florida?

 
Thursday, October 03, 2013
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The National Association of Realtors and Florida Realtors determined through a one year study that international sales comprised 8% of Florida existing home sales from July 2012 to 2013. In terms of dollar amount, it rose to 9%. The statistic was the result of a poll of 977 realtors and the term “foreign buyers” were non-resident foreigners, who either vacation here or use it as a rental property. Polls also included sales of single family homes, townhomes, and condos, amounting to $74 billion total with $6.4 billion being international sales. Below are some of the other findings of this study and some insight into the buyer behavior, for my sellers looking to target international buyers.

1.      International Buyers paid higher amounts than domestic. International buyers are often competitive and preferred in Fort Lauderdale since many pay cash and prefer short closings.

2.      Nationally 27% of agents have international clients, in Florida, two out of every three realtors have international clients.

3.      80% of realtors said their international clients found the properties in Florida less expensive and better values than in their own countries. Comparatively speaking, purchase power in Fort Lauderdale is far greater than in the South of France, while offering similar weather and boating opportunities.

4.      Fort Lauderdale held 9% of the international buyers focus in the study.

5.      84% of International transactions were cash.

6.      International buyers prefer detached single family homes, then townhomes, and finally condos.

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