TAMPA LEADS THE NATION IN FOREIGN INVESTMENTS

The global real estate market in Tampa, Florida is experiencing significant growth and attracting international investors. Tampa is considered a desirable location due to its strong economy, quality of life, and affordable housing compared to other major cities in the United States.

International buyers, particularly from countries such as Canada, UK, Germany, and South America, are investing in real estate properties in Tampa. They are drawn to the city's thriving job market, diverse economy, favorable weather and growing tourism industry.

The demand for luxury properties and condominiums in waterfront locations, such as Harbour Island, Hyde Park, and Davis Islands, is particularly high among international investors. These areas offer stunning views, upscale amenities, and proximity to downtown Tampa.

Tampa's real estate market has also seen an increase in foreign investment through commercial properties. The downtown area is being revitalized with new office buildings, hotels and retail spaces. This has encouraged global investors to enter the market and take advantage of the city's economic growth.

2023 Greater Tampa REALTORS® Director Lea Lagueux attended Toronto REALTORS® Real Estate Board (TRREB) REALTOR ® Quest from May 17 – 18. This event is Canada’s largest real estate conference and trade show. It is organized by the TRREB for the primary purposes of education and holding their annual membership meeting. The most asked questions by Canadian REALTORS® were about the condition of the real estate market in Tampa Bay and Florida in general. Agents also asked what typical home prices are, the size and type of homes available, the lifestyle, economy and investment opportunities. Inquiries on the availability of income-producing properties, ownership of short-term rentals and what laws exist for foreign buyers in Florida were frequently asked.

When asked the one thing that stood out to her during the event, Lagueux stated “it is the diversity of cultures and peoples that both Toronto and Canada embrace. This is not only clearly important in the city of Toronto but was an overall theme of the event.”

GTR was also represented at the 2023 NAR Western Europe Leadership Summit & 2023 Spanish International Realty Alliance (SIRA) Inmocionate Conference in June. GTR’s Florida REALTORS® Director, Marlene Cambronero noted that eight associations including Emerald Coast, Jacksonville, Miami, Northeast Florida, Orlando, Sarasota, and Tallahassee connected with over 600 SIRA members and global REALTORS® at the Expo during two days of insightful information on global markets, leadership and several breakout sessions. Attendees included agents from Spain, the United States, the Canary Islands, Portugal, Finland, Alaska, Italy, Norway, Germany, Costa Rica, Mexico and Colombia.

Overall, the global real estate market in Tampa is thriving, and international investors are recognizing the potential for growth and excellent returns on investment in this vibrant city.

Homeownership plays a major role in economic mobility, which strengthens our neighborhoods and local economy. For these reasons, Greater Tampa REALTORS® has partnered with Habitat for Humanity of Pasco County’s Tampa Real Estate Build for the first time after three consecutive years of partnership with Habitat for Humanity of Hillsborough County.

GTR has also donated $25,000 to assist the nonprofit in making the dream of homeownership a reality for a local family. Stay tuned for more information regarding our next build and how you can volunteer.