In 2014, Florida was the #1 place for international investors to buy real estate in the United States, according to The Next Miami in reference to a report from the National Association of REALTORS.
20% of Foreign Real Estate Investors Choose Florida
In fact, more than 20% of foreign buyers looking for investment property in the U.S. chose Florida. This is higher than any other state in the country. The only state close to reaching those numbers is California, with 16%. The top cities in Florida for investors are Miami, Miami Beach, and Fort Lauderdale, with other cities such as Tampa doing well also.
Buyers tend to come from a wide array of different countries including Canada, Brazil, China, Europe, and the United Kingdom. Though they may come from different countries, they all have a few things in common. They love Florida, and they see the potential for profit that the state offers.
Why are foreign buyers choosing Florida? The reasons vary among individuals, but there are a number of “typical” reasons for buying in the state.
Some investors are looking for a place to retire. This is often true of Canadian buyers, who want to find somewhere warm to spend their retirement years. Others are looking for a vacation home in the United States to spend a few weeks out of the year. And of course, some investors are looking to invest in real estate and make money from renting out the property.
In addition to buying residential property, foreign investors are also buying commercial properties as investments.
Tampa, Florida: Top City for Real Estate Investing
As a real estate wholesaler located in Tampa, Florida, Graystone Investment Group has seen an amazing increase in foreign real estate investors over the last several years.
Tampa is ranked as one of the top 10 cities in the world for residential real estate investing. As a city with growing businesses of all sizes, and a variety of social opportunities, people like to live and work in Tampa Bay. As a result, Tampa is one of the best cities for renters, which makes it a great place for residential real estate investing.