What Does BREXIT Mean To Our Real Estate Market?
By Patricia Tan
I was born and raised in England and watched with interest as the United Kingdom decided its future – whether to remain in the European Union or leave and become autonomous again. While it was a very close vote, the majority of the British people did vote to exit the E.U. The exact details of BREXIT will be negotiated over the next two years, and its full impact will not be known for some time.
Many readers know that I make several trips each year to the United Kingdom, where I exhibit at international property shows and speak at seminars about buying real estate in Florida. As a result of these marketing efforts, I have helped many British citizens buy and sell homes here. In the weeks since the BREXIT vote I have had an opportunity to talk with many of our British customers and gauge their reaction as to how exiting the E.U. may impact their investment in Florida real estate.
Many British citizens purchase homes in Florida to enjoy during their vacations or retirement years. These buyers are still very active in the market. Some told me when they re-examined their plans in light of BREXIT, they asked themselves the question: “If not now, when?”. They still have a desire, or some would say a need, to enjoy a home in the sun, and many have decided to proceed with their plans to buy a home here in Florida. Read More