Recently I read an interesting article in the Sun Sentinel about how European’s financial struggles are impacting South Florida real estate in a positive way!
Evidently, those Europeans with some extra spending money are investing in second homes in South Florida before the value of the Euro drops any further.
This has caused a recent spur in activity on such South Florida real estate markets in Aventura, Hallandale, Sunny Isles Miami and others.
Continue reading to learn more about this new trend!
South Florida Properties for Sale
Here’s a look at how Europe’s Euro woes are affecting various sectors of the South Florida economy:
- Europe now comprises 16 percent of South Florida’s trade with the world
- Europe also makes up 15 percent of shipments overseas from South Florida ports
- Switzerland ranks as South Florida’s third largest trade partner, mostly because of the gold industry
- European tourism to South Florida is also up!
And here’s how the crisis overseas is having a positive impact on South Florida’s real estate market:
- International home buyers accounted for 15 percent of all sales in the state of Florida before 2007
- In addition, the issues overseas are helping to keep U.S. interest rates low for the short term.
Plus, the dropping value of the Euro-zone has also led many Europeans to also invest in South Florida’s tourism and trade industries!
Your South Florida REALTOR
The recent investment on the part of Europeans on the South Florida real estate market will likely create a ripple effect.
As more Europeans snatch up available homes for sale, the total housing inventory will fall.
As that happens, sales prices will begin to creep up as demand for available South Florida homes begins to rise above supply of such homes.
This is great news for interested South Florida home owners who are hoping to sell their property for a good price!
For more information on how Europe’s financial woes may affect you as a home seller, please contact me, Scott Patterson.
I have years of experience selling properties on such local housing markets as:
- Bal Harbour real estate
- Davie real estate
- Hollywood real estate
- Golden Beach real estate
- And others!
Until next time,
Scott