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By Andre' Shambley | Agent in Miami, FL

Miami Ranks Among 10 Hot Spots for Global Homebuyers

www.MiamiFreeHomeInfo.com

By Andrea V. Brambila

The state of the U.S. real estate market is in the eye of the beholder. While many Americans have shied away from home purchases due to the economic downturn, a growing number of cash-rich foreign investors are seizing the opportunity to snap up U.S. homes at bargain prices.

Not all U.S. markets are universally appealing to out-of-country investors, however. International homebuying activity is largely concentrated in a few areas of the country. Using public record data compiled by San Diego-based real estate data analysis firm DataQuick, Inman News has identified the 10 most popular areas in the U.S. for foreign homebuyers.

The majority of the markets, if not all, are recognizable as tourist destinations. Six of the 10 areas are in Florida; three are in the West (Arizona, Hawaii and Nevada); and one is in the Northeast (New York). No Midwest markets made the list.

View List Facts and Figures

The 10 markets, ranked by highest share of foreign buyers, according to public records data, are:

  1. Lakeland-Winter Haven, Fla.
  2. Cape Coral-Fort Myers, Fla.
  3. Orlando-Kissimmee-Sanford, Fla.
  4. North Point-Bradenton-Sarasota, Fla.
  5. Miami-Fort Lauderdale-Pompano Beach, Fla.
  6. Phoenix-Mesa-Glendale, Ariz.
  7. New York County, N.Y. (Manhattan)
  8. Honolulu, Hawaii.
  9. Tampa-St. Petersburg-Clearwater, Fla.
  10. Las Vegas-Paradise, Nev.

Read more  |  Methodology

Courtesy of Inman News

Comments

By Kerry Lucasse,  Tue Sep 4 2012, 20:11
I'm so surprised that Lakeland is at the top of the list?
By Joe Stafford, PA,  Wed Sep 5 2012, 08:23
Wow, that is a surprising list for sure!
By Scott Miller - REALTOR®,  Mon Sep 10 2012, 17:34
There's not enough inventory in Florida to go around. In my area, there's one home for sale (at the right price) for every 5 buyers.

The pendulum has swung to the opposite side completely.

Scott Miller
Realty Associates
Boca Raton
By bifavagu,  Sun Jan 13 2013, 11:55
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