Recent Reports have come out from economic analysts and major news networks that the real estate market in Florida is seeing a larger than normal presence in foreign real estate investment.
Palm Beach, FL -- (SBWIRE) -- 06/27/2012 -- Recent Reports have come out from economic analysts and major news networks that the real estate market in Florida is seeing a larger than normal presence in foreign real estate investment. Florida real estate is becoming a top choice for foreign investors – mostly from Europe. There have been many speculations into why this surge has occurred: faltering value of the Euro, drop in Florida real estate prices, and unusually cold European winters, but local Florida real estate experts have their own opinions on the matter.
Joel Harelik of the Harelik Team recently commented on the infusion of real estate investment from foreign buyers by stating that Florida is the perfect place for them to invest their money and own a winter haven home. The faltering value of the Euro has scared many Europeans forcing them to divert their investment capital to other countries – namely the United States. European investment has come in from Spain, Italy, Greece, England, France and more. That has only added to the traditionally popular foreign investment from Brazil, Argentina, Mexico and Russia that already exists in the Florida real estate market.
SeattlePi.com describes the appeal for foreign investors by comparing it to stock investment,
“The average mutual fund is said to return between 3 to 5 percent without figuring in the cost of inflation each year. Inflation and taxation are some of the factors that can reduce an investment portfolio. Investors that are using self-directed IRAs to purchase real estate or investment property could earn between 8 and 15 percent annually or more”.
The Harelik Team is a group of Palm Beach real estate professionals specializing in Active Adult Communities in communities like Boynton Beach, Delray Beach and Wellington. The team consists of Candace and Joel Harelik who have decades of real estate experience between the two of them.