Did you Know… Pre-the 2006/2007 Housing Crash – British Buyers purchased more USA Real Estate than did Canadian Buyers – and now with a strong economy their back!
British visitors and real estate buyers are on the rise and their numbers will dramatically increase with new Non Stop direct flights between London and Ft Lauderdale!
Norwegian Airlines commenced operating Boeing 787 Dreamliners out of Ft Lauderdale this July with fares as low as $306 US one-way.
Cheap direct flights, great beaches, low real estate prices and an upscale inclusive community – is attracting many British Buyers including those buyers from Gay and LGBT community !
Real Estate and Home Prices in London are back to 2007 (Pre-Crash) levels and Fort Lauderdale Real Estate is “Cheap” in comparison.
Also impacting on British buyers are the changes to Laws governing Vacation Home Rentals in Europe especially popular destinations like Spain, France and Germany making owning and renting vacation homes much less attractive.
Fort Lauderdale’s warm weather, Blue Ribbon Beaches and strong Gay Community combined with increased Marketing efforts to attract UK Visitors including very focused efforts to reach the British Buyers including the Gay and LGBT community (with London having the Highest Percentage of Gay / Lesbians in the UK)…
These factors combined with a very strong Pound (£) now position Ft Lauderdale as a very attractive option for vacationers AND especially for those buyers looking for a 2nd Vacation Home
Florida is in fact already one of top 3 US destinations for British Buyers – Association of Realtor 2013 Report
British buyers are on the whole also more affluent with Brit’s typically spending 36% more than Canadian Buyers!
British Buyers and are also familiar with paying “Premiums” for Prime Real Estate – London is all about Prime Real Estate!
Importantly about 9 in 10 properties purchased by Brits are single-family properties – Association of Realtor 2013 Report.
With Ft Lauderdale having the 2nd largest number of gay couples and with cities like Wilton Manors and Oakland Park having a strong and cohesive gay community and well priced real estate there is a huge opportunity to market Ft Lauderdale Real Estate to British Gay and Lesbian Buyers.
Ensuring your Realtor is experienced with British Buyers/Seller is a must – from Marketing, Financing for Foreign National to tax implications and then even simple Language terms : like Escrow, the use of Realtor vs. Real Estate Agent and using 2 Realtors one for the Buyer the other for the Seller – can all be very confusing to British Buyers!
I hope you have enjoyed reading this post on British Buyers and Fort Lauderdale Real Estate – by Kevin Wirth Realtor.