It’s no secret that the domestic real estate market has experienced a slowdown in recent months. But there is good news to be had. Overseas buyers are snapping up properties in Southwest Florida faster than you can say “sold”, and this promising trend shows no signs of waning. Even European celebrities are getting in on the action, with footballer Wayne Rooney, golf pro Lee Westwood and numerous other A-list sports figures to stake their claim on the Gulf Coast.

More bang for the buck

Why the recent explosion in foreign sales? For starters, there’s the favorable exchange rate, with the British pound and the Euro far outweighing the American dollar. And in contrast to the U.K., where the scarcity of land has skyrocketed prices, Gulf Coast property remains plentiful – and affordable. Also prices are expected to double during the next 4 year, there are still a mere third of those in California. Now that values have leveled out, one can buy a sizable waterfront home in Cape Coral for just $400,000. In Punta Gorda, where the median house price is $200,000, a waterfront property can still be purchased for $275,000. When you factor in record-low interest rates and the state’s famously low taxes, Florida real estate becomes an indisputable bargain for overseas investors.

Also fueling the fire is the fact that many local Realtors are focusing more of their time and energies on overseas clientele. For example, Re/Max Palm Realty has agents dedicated to foreign investors. Additionally, through online descriptions and photo’s, the Internet has made marketing to international clients easier and more cost-effective than ever before.

Why the Gulf Coast?

Southwest Florida’s subtropical climate and pristine coastlines have long attracted those seeking a second home or retirement retreat. In addition to its abundance of glorious natural beauty, the region offers overseas buyers no shortages of activities, from championship golf and world class sport fishing to exquisite dining and shopping. A premier destination that draws millions of travelers each year, the Gulf Coast is rich with a remarkable diversity that appeals to visitors from every corner of the globe.

When it comes to choosing a property location, foreign investors can take their pick among the Coast’s sparkling array of cities and towns, from shell-speckled Sanibel Island to star-studded Naples.

Whether buyers prefer a standalone waterfront villa or a condominium community, the area offers an electric array of housing options.

Port Charlotte – named one of the top five places to live in Florida for the last five years – is home to Harbor Pointe, a brand-new waterfront development nestled quietly on the Peace River and Charlotte Harbor. Sought after by an increasing number of European celebrities, Harbor Pointe has a scheduled location that offers owners a refuge from the hustle and bustle of tourists’ hotspots.

With every cloud comes a silver lining. Although the housing boom of the last six years has cooled, it has given way to new and exciting opportunities for the Southwest Florida real estate market. The latest swing in foreign sales not only benefits area property sellers, but also serves to bolster the local economy. And it proves what we’ve known along: that Gulf Coast living is still as spectacular as it ever was.