Florida is known for being one of the top states receiving interest from foreign buyers due to its advantageous geographical location and unmatched climatic characteristics. Approximately 21 percent of U.S. sales in Florida can be attributed to foreign buyers, post-recession. One of the most sought after areas in the state is Palm Beach.
Initially, some of the interest for foreign investors was due to post-recession property values. As of more recently, political and economic stability have drawn in more foreign buyers. Additionally, owning property in the U.S. has become a status symbol and a great conversation starter at gatherings.
In addition to the allure of recognition plus safe investment opportunities, education has become another focal point for purchasing homes in the states. The trend began with housing for college students but has evolved to include secondary education. Global real estate advisors Knight Frank estimate that a large percentage of the affluent community in China and Russia are likely to send their children to middle and high schools in the U.S.
As far as luxury lifestyle and relaxation are concerned, it is rare to find what the Palm Beaches offers. For example, Manalapan, Fla. is the only area where one can purchase a spacious property that includes ocean frontage and Intracoastal frontage. The deep Intracoastal waters offer dockage for mega yachts and provide a sunset view to die for. The area is also renown for its history and tight-knit community.
If you’re looking to invest in the Palm Beach area, you should have someone by your side that is not only familiar with the area, but that lives the lifestyle and can assist with the things that are important to you. From vacation homes to investment properties, home remodeling contractors to accountants, the best local schools to finding local in-house staff, Jack Elkins knows Palm Beach luxury real estate inside and out. Contact Jack Elkins today to learn more about everything Palm Beach has to offer.