(TCPALM) — The Treasure Coast is attracting a growing number of international real estate buyers, from Canada to Latin America and Western Europe, buying second homes and rental properties.
Helped by a weaker dollar, they are attracted by home values lower than other parts of Florida and their native countries and a less-crowded area. And with rising property values in traditional hubs for foreign buyers, such as Miami-Dade and Broward counties, the Treasure Coast could be the next hot spot for those clients.
The presence of international buyers has been prominent on the Treasure Coast since at least 2008, when the housing market started to decline and the dollar began losing its value compared to foreign currencies. A research published in August by the National Association of Realtors found that Port St. Lucie and Vero Beach rank No. 9 and 13 among top destinations for nonresident foreign buyers in Florida.