Foreign Investors’ Interest in U.S. Real Estate Cooling

by Isaac Benmergui, Esq on August 10, 2012

Foreign investors who had been snapping up Miami’s coastal properties like mad, have started to cool on their interest in owning a piece of the Florida sunshine. The European economy may be a strong factor in the chilliness starting to affect properties that normally would have been snapped up before the ink was dry on the blueprints.

Foreign interest in U.S real estate fell again between April 1 and June 30, 2012, with the Eurozone crisis cited as the biggest factor that’s also affecting interest from the U.S.’s northern neighbor, Canada. Since the fourth quarter of 2011 and the first half of 2012, European interest in American real estate declined 15 percent. The good news for Miami is that interest from Latin America countries remains high and the buyers pay in cash.

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