I live in Miami, a very international city. Our real estate is being bought by South Americans, Europeans, and coming soon, the Chinese. It’s exciting to watch what is happening here and how many brokerages and developers are investigating better ways to reach these international buyers.
The same can be said for many other markets around the U.S. There are obvious ones such as Miami, New York, Los Angeles, Houston, Los Angeles, San Francisco, and Seattle. However, if you think global real estate is limited to these gateway cities, you are mistaken.
Some examples of global real estate trends in other national markets:
- With the concentration of higher learning institutions and technology companies in the Boston area there are more and more Indians, Chinese, and other foreign nationals buying real estate;
- Come to Broward County, Fla. (north of Miami) this time of year and you will notice a preponderance of Canadian license plates because so many have bought winter homes there;
- Greenville, S.C. was a sleepy little Southern town until BMW came to town about 20 years ago. Walk around downtown today and you will hear lots of German being spoken as many executives of BMW, and their supplier companies, have relocated; and,
- Las Vegas is a magnet for foreigners who love the gambling and shows. You know what else they love? Buying property.
This is not just an opportunity in the U.S. Foreign brokers and developers are seeing similar trends in their countries:
- Indian developers trying to get Indian nationals living abroad to come back and invest in their growing real estate market;
- Dubai trying to diversify their buyer base in a maturing real estate market;
- Spaniards trying to bring in investment to take advantage of the great deals after years of recession; and,
- Brazilians trying to capitalize on a weak currency and the attention of World Cup and Olympic visitors.
Getting the point? Real estate has truly become a global business. Are you ready to plug into and profit from these growing opportunities, engage with agents and consumers half way around the world and communicate with agents and consumers that might not speak your language?
You can capitalize on the significant opportunities that exist and will continue to arise for years to come. There are tools and technologies being leveraged by developers and brokers worldwide, and you should use them to incorporate global real estate surge into your business model.
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