FEATURE
FOCUS ORLANDO
SERVING CENTRAL FLORIDA. Since 1921.
ORRA produces a terrific
resource that pitches
Orlando as a destination for
international real estate and
economic investment. Our
“Focus Orlando” brochure is
available for download and
use by all members (and,
feel free to use it in your own
marketing eff orts as well!). It’s
located on orlandorealtors.
org/international under
the “Tools and Resources”
header.
According to Nimkoff , the
increase in Venezuelan buyer
activity stems from that country’s
economic crisis and rapid
inflation, which has caused
many residents to flee or to
find international markets
for their assets. Nimkoff also
points out that the decline in
U.K. buyers can be attributed
to the pound’s drop against
the dollar, accelerated by that
country’s vote to leave the
European Union.
International buyers tend
to purchase properties priced
higher than an area’s median
price, and they are very apt to
use cash because they might
not have the required U.S.
credit to obtain a mortgage
from a U.S. source. In fact,
about 72 percent of all Florida’s
international transactions
in 2017 were all-cash,
with Canadians (86 percent)
most likely to have gone that
route.
Orlando’s international
buyers purchase properties
for both vacation and residential
rental purposes. Those
from Argentina and Venezuela,
in particular like to take
advantage of Orlando’s steady
stream of tourists and invest in
a rental property while those
from Canada and the United
Kingdom were the most likely
to purchase a property for
vacation use.
With its mix of resort, urban,
and suburban areas, Orlando
is able to accommodate
foreign buyers’ ever-changing
13%
12%
10%
10%
7%
4%
3%
2%
2%
2%
2%
2%
2%
2%
2%
location preferences. In 2017,
fewer of Florida’s foreign
buyers purchased a home in
an urban area, with the share
at 35 percent (40 percent in
2016). Thirty-seven percent
chose the suburbs, which held
steady from 36 percent the
year before.
The percentage of international
buyers who chose to
purchase a home in a resort
area of Florida increased a
fraction in 2017, to 15 percent
from 14 percent in 2016. A decade
ago, 33 percent of buyers
preferred a resort area; this
drop is consistent with the declining
share of Canadian and
U.K. buyers (from 50 percent in
2008 to less than 30 percent in
2017), who traditionally prefer
such locations.
*through November 31, 2017
28%
Brazil
Canada
United Kingdom
Venezuela
China
Colombia
Italy
Haiti
Mexico
Argentina
Germany
India
Israel
Peru
United Arab Emirates
Other
MAKEUP OF
ORLANDO’S
INTERNATIONAL
PURCHASE
TRANSACTIONS
IN 2017
ORLANDOREALTORS.ORG/GLOBAL 1
Florida, U.S.A
CERTIFIED INTERNATIONAL PROPERTY SPECIALIST
April 4-10, 2018 | ORRA | $349 by 3/10
I helped a family
settle here from
another country. READY TO CAPTURE
YOUR SHARE OF THE
GROWING GLOBAL MARKET?
REGISTER ON ORLANDOREALTORS.ORG
orlandorealtors.org 19
/GLOBAL
/ORLANDOREALTORS.ORG
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