Law Office of Kimberly A. Abrams & Associates, P.A.

Eurozone crisis shifts real estate investors to Broward County

As any of our Broward County readers who have followed our previous posts knows by now, the South Florida area is one of the bright spots among the dim national housing market. Real estate transactions throughout the area are up, both in number and in sales price. In fact, real estate is so attractive in the South Florida region that a recent report detailed how investors from Europe are looking at the area as a means to place their funds outside of the current Eurozone crisis that is rocking financial markets worldwide.

According to the report, it is apparently not unusual that a prospective buyer from Europe would eye the South Florida region for a potential investment. The report cited the fact that even before America's recession began international buyers represented 15 percent of real estate sales in the area. That was already a significant number, but now, with the Euro declining in value rapidly on the backs of financial crises in Greece, Spain and potentially other countries, Broward County is looking especially inviting to those with funds to invest.

Not surprisingly, many of the foreign investors are looking at properties that could possibly produce rental income, with the most popular spots located in Fort Lauderdale and along the beach. The report also detailed the effects of the Eurozone crisis on South Florida's trade and tourism, indicating that thus far the negative effects have been minimal.

This data represents a continuation of good news for those interested in selling or investing in real estate in Broward County. Whether it is a seller looking to get the best possible terms of sale, or a prospective buyer looking to get in while the getting is good, South Florida is definitely a healthy port in the continuing nationwide housing storm.

Source: Sun, "Europe's financial woes ripple to South Florida in real-estate, trade, tourism, finance and more," Kathleen Haughney and Doreen Hemlock, July 4, 2012

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