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Featured Community

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Featured Properties

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Home Valuation

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Mortgage Calculator

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Brexit Effects on Golf Properties in Florida TBD

    If you play a lot of golf in the Tampa Bay area, chances are you have heard accented English spoken on the fairways and greens of our golf courses. Only Canadians purchase more Tampa Bay area properties among foreign buyers than do the British. In the year before the Brexit vote, 19% of all foreign purchases of property in the Tampa Bay area were by British citizens. With the UK now officially leaving the European Union, there are as many signs of a slowdown in traffic from Great Britain as there are signs of even more interest.

    Just after the Brexit vote, property values in London and other hot British markets plummeted, leading to speculation that owners of those properties would sell and seek shelter from the post-Brexit storm in stable markets like Tampa Bay, where the sun shines on more than just the fairways and beaches. Politics in the U.S. may stimulate among Americans uncertainties about the future, but those do not compare with the anxieties about the economy, immigration and terrorism that many in Great Britain feel.

    But although Florida and other U.S. destinations may have looked good to nervous English citizens, especially immediately after the Brexit vote, a drop in the value of the pound sterling meant that British buying power in the U.S. also dropped, making it considerably more expensive to buy vacation homes in the Sunshine State. Without Britain in the EU, the value of the Euro, united Europe’s currency, is also under pressure, making it more expensive for citizens on the continent to travel to and buy property in Florida.

    With or without the British invasion, the Florida real estate market is strong, and the low inventory of homes for sale, both inside and outside the gates of golf communities, cushions the market from a slowdown in activity from overseas. The baby boomer bubble continues, with 10,000 people born between 1946 and 1964 retiring every day in the U.S. That should sustain a healthy real estate market, but there are still reasons to believe traffic from the other side of the Atlantic will buttress real estate activity in Florida and the Tampa Bay area.

    One reason is that the British love beaches; millions of them choose to spend their two to four weeks of vacation each year beside sand and water. They consider living within 10 or 15 minutes drive of a beach like any of those along the Gulf of Mexico to be a luxury. Another reason to remain upbeat about British investment in golf properties here is that the UK pension system permits lump sum payments to retired persons, which could help with the purchase of a home. And Florida taxes and cost of living are significantly lower than in places like London, one of the most expensive cities in the world.

    Those citizens of London, the most populous United Kingdom city by far, have access to dozens of the best museums in the world. That is one reason many of them target the Tampa/Sarasota area where they can enjoy a trifecta of activities -– the beach, the golf course and world-class museums like The Ringling in Sarasota and the weird and wonderful Dali Museum in St. Pete.

    The migration from New England, the Middle Atlantic and upper Midwest to Tampa Bay and the rest of Florida will continue for the foreseeable future. It remains to be seen how much that traffic will be supplemented from Great Britain and the European continent.

Larry Gavrich is the founder and editor of Home On The Course, LLC. His web site, GolfCommunityReviews, features more than 1,000 articles he has written about golf real estate in the Southeast U.S. Larry also counsels couples on both sides of the Atlantic about how to choose the golf communities that best match their requirements. He can be reached at This email address is being protected from spambots. You need JavaScript enabled to view it..

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Fine Properties logo

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