Foreign investors have put more that $120 million into property in Central Florida between January and June 2007, this is more than double last years $54 million, also the investment is not just in vacation homes but on apartments, retailing and office space and more! Orlando has become the 19th largest market for investment for the foreign dollar in the nation and the largest in the Sunshine state.
For the whole of 2006 the figure was just over the priod of the first and second quarter of this year at $130 million making it 27th in the nation but this is a far cry from 2004 where it had a record year of $222 million investment in real estate from foreigners making it 15th in the nation!
Overall this investment is dwarfed by the investment by Australians, who have invested $7.7 billion nationwide in real estate this year!
All of this foreign invesment is driven by the weak dollar, which for UK buyers has reached historic lows of $2.06/£1.00…but has now risen back to around $2/£1….these rates are the best in over quarter of a century…now is the time to buy!
Great news all round!!
