The Real Deal Miami

Scandinavians are the latest foreign investors to arrive in South Florida

June 05, 2012 02:15PM

Lars Heldre, Superior Florida Realty broker and founder

Scandinavians looking to escape the Nordic cold are the latest foreign investors to take advantage of South Florida’s record affordability, the Palm Beach Post reported. Superior Florida Realty recently closed on a 31-unit condominium deal with a Norwegian investor with an average unit price of $269,371 – down from a 2005 value of $500,000 per unit. The company is now hiring Swedish and Norwegian agents to better cater to Northern Europe’s growing interest in South Florida. “Traffic from European investors has really picked up, because our prices are very low,” said Daniella Collin, head of sales at Pineapple Grove Village in Delray Beach. “They were 40 percent to 50 percent higher in 2005.” [Palm Beach Post]