Skip to content

Foreign property investors lose money in Florida

The Florida housing market is perhaps one of the harshest for investors. While many people are looking to purchase property in this area, due in part to the touristic demand of the area, many should reconsider due to the problems found here.

In 2004 through 2006, many UK overseas investors purchased property in Florida. Some would make the investment just after a visit to Orlando, coming back with a plan to invest in off plan property in the area. Doing so seemed like a no fail situation, yet somehow many investors from the UK have lost millions in properties that were never developed.

To make matters worse, those that made hefty down payments into these properties to get them started will likely never see those funds again. The legal system is tied up with problems and more often than not, no outcome is likely to come for some time.

The Florida housing market is not a good one currently with the huge number of foreclosures and the drop in demand.

More so, would be homeowners in the area are not sure of what the market holds and are not willing to make the investment leap. Since many areas have seen significant drops in the house prices, investing could be detrimental because further risks exist. The market has not hit bottom yet.