Posted on Thursday, December 15, 2011
Is Naples, Florida real estate a flight to safety? Well in hind sight prices are up 15%+ on the trailing twelve months according to NABOR data and if you are an EU owner you were holding dollars instead of euros in that Naples brick and mortar of yours.
It is estimated 23% of Naples real estate buyers are international buyers and real estate in Naples might be looking even more tempting right now. Firstly, you have the dollar itself. The Dollar-Euro equation is going all the dollar’s way in recent months so so of our international buyers like holding real estate in US dollars.
Secondly real estate, both here and abroad, might be taking on more attractiveness. Bloomberg reported yesterday “Luxury-home prices in central London climbed the most in 14 months in November as the risk of a recession in Europe grew and overseas buyers sought safer investments, Knight Frank LLP said. Values of houses and apartments costing an average of 3.2 million pounds ($5 million) rose by an average of 12.6 percent from a year earlier, the London-based broker said in a report today. That’s the most since a 14.2 percent increase in September 2010.”
So what does all this mean for Naples real estate? Well for starters we have a great little local airport with direct flights to Europe. My neighbor from Nuremberg is building a wonderful new home and his flights to and from home are convenient. Another impact – if you are selling your home your broker better have an international presence. We keep our Naples Best Address team at Coldwell Banker for many reasons – international brand and the digital network to reach these buyers are just a few.
Real estate as a safe haven? Well if it is true, my how times have changed.
An oh yes, as you wander down 5th avenue south these days in Olde Naples or meander out to the beach, aren’t you hearing more German and “real” English spoken spoken around here?
Tell us what you think.
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No legal or investment advice or suggestions are being given in this Blog. Actual real estate price and sales results are subject to market forces and are not completely predictable. Please consult a lawyer or investment advisor for such legal and investment advice. The writings of this Blog are intended for the sole use of our clients.
Mark Goebel, PA is a REALTOR with Coldwell Banker on 5th avenue in Naples, Florida with 35+ years of visiting and living in Naples. After 25 years at Accenture, Mark retired as a managing director and spends his time helping non profits and building a Naples real estate team with his wife Nan. Talk to Mark and Nan about life in Naples and why they chose this place to live full-time over all others and enjoy Naples real estate.
Mark Goebel, PA
REALTOR
Mobile: 239.595.3921
Email: mark.c.goebel@gmail.com
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