These investors are attracted to South Florida for a number of reasons but are particularly interested by the absence of a state income tax. Hence, they flock to it as a hub for international banking tax. According to the National Association of Realtors, the number of Chinese buyers in Florida has grown from 0.05 percent five years ago to this year’s 3.7 percent. Asian buyers comprise 6.9 percent of the deals.
This is not the first time foreign investors have shown an interest in the Florida real estate market. A few months ago, there was an influx of French investors in South Florida as well as other nationalities including Canadians and Brazilians.
“With South Florida’s reputation reaching the international market, everyone should take this as a sign that South Florida real estate is indeed a great investment,” says Gary Lanham, Associate Broker and Team Leader of the Gary Lanham Group at Coldwell Banker.
Invest in South Florida real estate now! And choose Gary Lanham Group at Coldwell Banker for all your real estate needs!