Dropping real estate prices, weak dollar attract foreign investors searching online
Posted by Elena del Valle on October 15, 2008
By Brian Requarth,
Founder, VivaReal.com
Brian Requarth, founder, VivaReal.com
Photo: VivaReal.com
Can you imagine buying real estate before actually seeing the property? Believe it or not, real estate agent in Miami, Ines Hegedus-Garcia has had multiple clients from outside the country do just that and she owes it all to the Internet (and her great service of course). “About 30% of our business is foreign nationals and we expect that number to grow.”
For international investors it is a perfect storm, dropping real estate prices and a relatively weak dollar against most major currencies is resulting in foreigners buying up single-family homes, condos and commercial real estate.
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