Boynton Beach, Florida – Florida is an attractive destination for both international and domestic home buyers. Based on the experience of REALTORS working with foreign buyers, the single most important factor influencing the purchase of a home is that Florida is viewed by a majority of foreign buyers as a desirable location. Florida real estate is viewed as a profitable investment by 23 percent of foreign buyers, while 12 percent mentioned Florida real estate as a secure investment. Other respondents mentioned favorable international U.S. – Foreign currency exchange rates as a reason for the purchase of Florida real estate and investment property.
International Real Estate Investors to Purchase Boynton Beach Houses
Although home buyers come from all over the world to Florida, a few countries and regions accounted for the majority of sales to international clients. Canada accounted for 39 percent of buyers, up from 36 percent in 2010. The United Kingdom accounted for 7 percent of buyers, down from 15% last year. Other countries with large numbers of buyers included Brazil (8 percent, up from 3 percent), Venezuela (7 percent, up from 3 percent) and Germany (5 percent, same as last year).
North America (Canada and Mexico) accounted for 41 percent of the total international purchases, followed by Latin America (including the Caribbean) at 26 percent of total international purchases, and Western Europe at 23 percent of total international purchases.
Foreign Real Estate Buyers from Different Countries and Regions
Below, we will discuss about several characteristics of buyers from Canada, Brazil, United Kingdom, and Venezuela. Also, we discuss about buyer from Western Europe other than United Kingdom, and Latin America without Brazil and Venezuela.
Home and Condo Buyers from Canada
Canadian Buyers accounted 39% among the entire foreign buyers in Florida. 57% of Canadian buyers chose Condo - Apartment type of housing, and 32% purchased detached single family homes. Many of these Buyers were in need of cheaper car insurance for their new America car. 44% of Canadian buyers purchased properties located in resort area.
The median price of homes purchased by Canadians was $151,500, which is lower than $174,700 the median of all foreign buyers. Close to two thirds of the buyers (64%) paid under $200,000.
91% of Canadian buyers paid all in cash and only 9% used mortgage financing. More than half of Canadian buyers intended to use the property for vacation homes for family and friends.
Close to half of the Canadian Real Estate buyers planned to use the property between 3 to 6 months during the year.
Canadian buyers purchased homes throughout the entire Florida. The most popular destination was Tampa- St. Petersburg- Clearwater area (17%), and followed by Miami-Fort Lauderdale- Miami Beach (15%) and Orlando - Kissimmee (14%).
Canada – Top Destination for Home Buyers Tampa-St. Petersburg - Clearwater 17%
Miami-Fort Lauderdale- Miami Beach 15%
Orlando - Kissimmee 14%
Naples-Marco Island 10%
Cape Coral-Fort Myers 10%
Other 35%
Condo and Home Buyers from Brazil
Buyers from Brazil were 8% among all foreign buyers. 53% of them purchased Condo/Apartment type housing and 34% chose detached single family homes. 53% of Brazilian buyers purchased homes located in central city/urban area. The median purchase price was $215,000, higher than all foreign buyers’ median $174,700.
Brazil — Price of Homes Purchased $99,999 or less 30%
$100,000 or $199,999 17%
$200,000 to $299,999 21%
$300,000 to $399,999 9%
$400,000 to $499,999 0%
$500,000 to $749,999
13% $750,000 to $999,999 9%
$1,000,000 or more
2% Median Purchase Price $215,000
85% of Brazilian Real Estate Investors paid in all cash, and 15% used mortgage financing.
47% of buyers from Brazil intended to use the property for vacation homes and 17% intended to use for rental properties, and 23% intended for both.
43% of Brazilian buyers expect to stay in their properties between 3 to 6 months during the year.
Brazilian buyers are concentrated in metropolitan areas such as Miami-Fort Lauderdale- Miami Beach (53%) and Orlando - Kissimmee (30%).
