Europeans turn their eyes to Florida

From Global Edge

The Herald Tribune, which this week ran a feature on the rise of international buyers purchasing in Florida, found that Western European buyers accounted for 38 percent of the total number of foreigner purchasers in the Sunshine State, with the British the largest segment.

Although there has been strong interest from Europeans over the past 18 months, it was almost impossible for foreign nationals to get U.S. mortgages at the start of Florida’s financial crisis, says Patricia Tan, international sales director at Prudential Palms Realty in Sarasota. "But now large lenders like Bank of America are back in the market, even if they do have more stringent documentation requirements than in the past."