Florida Real Estate, Tourism and Immigration News

Foreign investors are snapping up US Real Estate like there is no tomorrow! Investors from Canada are benefiting from a dollar worth more than the US at the moment and UK buyers are experiencing 26 year highs for their Pound. Not to mention the Europeans who have a strong Euro – they are all in it to purchase a slice of the American Dream!

Florida naturally is high up on the list of hot spots, – from a villa near Disney to a condo on South Beach! New York is also a desirable location for Brits who at the exchange rate can easily afford a small apartment on 5th avenue! Southern California also is desirable with investors looking to San Francisco and LA for properties for them to sink their cash into.

ABC News reports – see link below.

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!!