As the difficulties buyers and mortgage lenders have experienced with the property market are still apparent in the US today it would seem that increasingly, buyers from abroad are looking to purchase homes in the state of Florida. Realators from Miami are advising that a large number of European buyers, South American buyers and Canadian buyers are purchasing homes in the area as prices remain low. An apartment overlooking South Beach or the northern parts of the area can be bought for as little as between fifty and a hundred thousand dollars, which has left investors in property vying to have their bids considered.

Considering the extremely low prices bottoming out the market, it may well be the most opportune moment to buy. With local agents reporting prices falling to below half what they were only a few years ago when it was at its peak, it is suggested that it may be a few more years yet before an increase is seen again. A rise in employment opportunities and a spur in the jobs market is needed for the property market to get back in its stride but with that looking unlikely for some time, we may well continue to experience low prices for months or years to come.

A lack of jobs and a lack of willing lenders providing credit lies behind the low house prices we are seeing. With homes and businesses being repossessed continuously in the area for failure to keep up with payments, there are a phenomenal number of properties up for sale right across the south of Florida.

The influx of buyers from abroad has stopped prices falling even lower, keeping the market afloat. This has provided much needed strength to the property market and some hopeful signs of improvement are beginning to emerge. It is a great investment for foreign buyers looking to make large profits when it comes to reselling, but whatever the motivation for the purchase it is indeed a welcome one.

Of course properties can also be let once they are bought, and this is another great way for foreign investors to make a return on their purchase. It is speculated that the main reason for the investments is to make a return for the owners rather than to be occupied by them, but the relevant authorities in the area state that the buyers are benefitting the economy regardless of their motivations.