Southern Florida, especially in the Palm Beach area, is a hot spot for real estate. Gorgeous weather, luxurious homes and sandy beaches keep this part of Florida afloat and doing well. Many retirees like to lay roots here as well as the younger generation, including families, who want a steady job and a healthy lifestyle. We can't also forget to mention international investors.
For foreign investors, specifically from Brazil, southern Florida is highly on the radar for available and affordable real estate. For investment and personal residency purposes, many people out of the country look to areas such as Palm Beach to purchase property for the quality and quantity of what's for sale.
According to TheRealDeal.com, "In 2014, Brazilians registered 11 percent of all South Florida international real estate deals, according to a report conducted by the National Association of Realtors for Miami." Brazilians have been in the top spot for southern Florida international real estate transactions for the last twelve months with Canada, Venezuela, and Argentina not far behind.
Southern Florida real estate is a bargain for Brazilians. For example, a 1,290 sq. ft. condo in Miami costs around $150,000 whereas that same sized property averages $960,000 in London, $776,000 in Hong Kong and $1.6 million in New York. If you compare the property, Palm Beach and southern Florida have much more to offer their residents as well.
It is for the reasons mentioned above as to why Palm Beach Gardens, Florida is a sought after location for real estate. If you are looking to make a move to Palm Beach or want to upgrade your home, contact Leibowitz Realty Group.