French Are the Latest Buyers Grabbing Up South Florida Real Estate

by Isaac Benmergui, Esq on August 26, 2013

CompassThe Sunshine State enjoys a worldwide reputation for its beautiful climate, sandy beaches, fabulous surfing and exciting cities. International real estate buyers have longed flocked to South Florida to purchase their vacation homes as tax shelters.

Canadians and Brazilians have been long-time, regular buyers of South Florida properties and now the French have taken notice and begun their hunt for the perfect South Florida home. The New York Times recently reported that foreign buyers of American real estate most often purchase their properties in cash, and that nearly 65 percent of all Miami home deals were made in cash. Just six years ago, that number was only a mere 16 percent.

The Miami Association of Realtors ranked France the highest in April and May of this year as the country having the most international shoppers for the South Florida real estate. Industry experts believe the oppressive tax hikes in France is spawning interest in foreign real estate markets everywhere, but that South Florida is drawing most of the attention.

Getting Legal Help

The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

 

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