The impact of international real estate buyers in South Florida continues to bolster our recovery in Coral Gables and Coconut Grove. You may recall a mention of an international buyer that I’m working with on a recent post. He’s one of three that I’m currently working with– I see continued growth in this sector for some time based on my own clientele and recent statistics shared by the Miami Association of Realtors.
Over the last year, Florida’s market share of international sales in the US has increased a significant 9%. Florida accounts for 31% of US international sales. While South Florida real estate market, which draws the most international buyers in Florida is expected to set a sales record this year.
The majority of these sales will be in the condominium market. In 2011, over 70 percent of international real estate purchases were made in the condominium market. In comparison, 15 percent purchased single-family residences, nine percent purchased townhomes and five percent purchased commercial property.
My three current international buyers vary by country of origin and by property requirements but all three want to see waterfront condos in Coral Gables and Coconut Grove. My tour typically includes my three favorite luxury condominiums, Gables Club and Grove Isle and Grovenor House.
The amenities and waterviews are truly spectacular and always warrant a visit. Here are the current listings in Coconut Grove’s Grove Isle and Grovenor House. View Coral Gables’ Gables Club available listings here.
If you’d like to buy or sell in Coconut Grove or Coral Gables, feel free to contact me and benefit from my Strength of Experience.
305.710.1010 | [email protected] | facebook.com/CaroleSmithMiami Affiliated with EWM REALTY International | Christies International of Coral Gables.