Dropping real estate prices, weak dollar attract foreign investors searching online
Posted by Elena del Valle on October 15, 2008
By Brian Requarth,
Brian Requarth, founder, 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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Excellent article. I wasn’t aware of the great opportunities emerging in Latin America, I will definitely be doing some more research. Thanks!