International and Out of State Condo Buyers Swoop In On South Florida

As reported by the Sun-Sentinel, today, the real estate bust is a big boon for foreign buyers. They are buying in now because they believe the region remains a powerful long-term draw. Some condos are selling at 25-60% less than during the boom times. Flush with cash, buyers from Italy, Germany, England, Spain and other countries are scooping up condos here for at least 30 percent less than the cost of properties in their homelands.

We study the statistics and data on oceanfront condo sales in Miami, Fort Lauderdale and Palm Beach, and the trend is indicating an increase in sales in all three areas. Watch for trend data on our next post.

Sunny Isles Oceanfront Condo Skyline

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