Offshore Investors Snapping up Florida Real Estate

Posted on by admin_fletcher
From the Miami Herald

Offshore investors are flocking to Florida’s distressed real estate prices as major companies with ties to Hong Kong, Spain, Argentina and Malaysia are snapping up properties sensing the local market has bottomed.

International companies can park their investment and position themselves for the next development cycle, said Tere Blanca. “Acquiring prime properties at discount prices in the height of the market was not achievable. Whomever has deep liquidity and can be nimble and act when opportunities arise can acquire properties at what we consider to be solid pricing,” he said, according to the Daily Business Review.

“With the potential appreciation, if you’re buying at half the price of the bubble, you have the potential to go up 60 to 70 percent in the next five years”, says Stephan Gietl of Austria. “As Americans worry about the economy and debt ceiling, international investors still perceive the U.S. as “the most reliable country in the world”

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