GLOBAL BUYERS BUY UP FLORIDA PROPERTY - CASH

GLOBAL BUYERS

Who they are – most international buyers come from Europe (30.8 percent); North America (27.5 percent); and Asia (25.2 percent) with the remainder being from Latin America, Africa, and Oceania. They speak their native language, embody their culture and follow their customs. Global buyers can include relocating employees, immigrant families, college/university students, and foreign investors.
What they buy – REALTORS® reported that 69 percent of their clients bought single-family homes, 18 percent bought condominiums, and the rest was in townhomes and commercial real estate.
Where they buy - Suburban communities were the most sought after, followed by rural or small town communities and urban areas. Four states account for the most sales – Florida, California, Texas, and Arizona; but sales took place across the country.
How they buy – More than 45 percent of international buyers pay cash (compared to the 93 percent of U.S. homeowners who secure a mortgage). The international buyer on average paid nearly 20 percent more than the domestic buyer, according to a REALTOR® survey that covered the late 2008 to early 2009.