Canadians are one of the forces holding up Hawaii's real estate market and currently estimated to account for 10% to 15% of foreign buyers.
The main draw for foreigners seem to be in the $500,000 + luxury home and condo sector as many see this market as currently having good value with great future growth potential.
Sales volume has cooled off from its highs in 2005 and with the weak US dollar, many foreigners are buying up luxury condos and houses for investment and vacation homes.
One realtor comments, "Maui inventory is much more available and affordable. The period of "irrational exuberance" in the Real Estate Market is over for now. There has been a correction and the over inflated priced homes do not sell. The market seems to have stabilized in the recent months."
Final thoughts: A quick search showed vacation rentals in the $120.00 per night for a 2 bedroom 2 bath condo.
I looked around an MLS site and there are plenty of options for less than $300,000.
It would require more investigation but on the surface it looks like one could purchase a decent condo around the $200,000 mark and have tourists pay it off.
If you are interested in a vacation home in Hawaii it's worth looking into.
The main draw for foreigners seem to be in the $500,000 + luxury home and condo sector as many see this market as currently having good value with great future growth potential.
Sales volume has cooled off from its highs in 2005 and with the weak US dollar, many foreigners are buying up luxury condos and houses for investment and vacation homes.
One realtor comments, "Maui inventory is much more available and affordable. The period of "irrational exuberance" in the Real Estate Market is over for now. There has been a correction and the over inflated priced homes do not sell. The market seems to have stabilized in the recent months."
Final thoughts: A quick search showed vacation rentals in the $120.00 per night for a 2 bedroom 2 bath condo.
I looked around an MLS site and there are plenty of options for less than $300,000.
It would require more investigation but on the surface it looks like one could purchase a decent condo around the $200,000 mark and have tourists pay it off.
If you are interested in a vacation home in Hawaii it's worth looking into.
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