Hollywood Beach Gaining Real Estate Momentum

March 27, 2012

Oceanfront and waterfront properties in South Florida are what seems to be attracting buyers; not only for their breathtaking views of the ocean, but because of their worth in long-term investment. Recently, this seems to be very much the case in Hollywood Beach, where the inventory for homes and condominiums has dropped by as much as 60%.

Where the demand is coming from is a direct reflection of the recent trends we have been noticing; foreign investors are purchasing property in the region for incredible opportunistic deals. “It’s crazy, we don’t have enough listings to meet the demand,” says Susan Scelfo, a realtor in Hollywood Beach.

Buyers from Brazil and Russia seem to make up a majority of the foreign interest in the region, but Canadian buyers are also prominent, willing to purchase everything from mobile homes to high end oceanfront condominiums.

Summer Greene, the president of Florida Realtors, shares an optimistic view of South Florida real estate.

“Florida’s economy is continuing to strengthen, which is good news.”