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Florida real estate news is bubbling with evidence that foreign property investment is already hot and getting hotter in South Florida. AOL Real Estate reports that overseas investors are buying properties sight unseen, while the Toronto Star says that the Canadians and the Chinese are in a bidding war over Florida property. Experts say the economic climate in the U.S. and resulting low home prices are attracting more and money from overseas as residential real estate values become competitive with other international hotspots. For more on this continue reading the following article from JDSupra

This week, AOL Real Estate reported on foreign investors becoming so infatuated with U.S. real estate, particularly Florida residential real estate, that they are buying property here without even bothering to visit the home before closing on the deal. In an article entitled, "Foreign Investors Buy Florida Homes Sight Unseen," the power of the World Wide Web really makes itself known as buyers from Canada, China, and other countries, are shopping real estate sites to find homes to buy.

Florida, according to the article, is the current hot spot for these foreign buyers: Canadians, Chinese, and other foreign investors are surfing Florida realty web sites to find condos and homes and town-homes to purchase. And they are buying these homes sight unseen (except for photos, maybe a video tour).

Looking to other media sources, it appears that foreign media coverage is concurring with AOL on this new trend in foreign investment. A cursory review of international media coverage of foreign investment in Florida real estate found the following:

In 2013, we should expect and welcome foreign investors of all shapes and sizes and nationalities here in South Florida where our current real estate market beacons them to buy here and invest their money into our economy - both now and in the future.

This article was republished with permission from JDSupra.