Foreigners Flock To Florida Real Estate Bargains

Foreign tourists who for years have crowded Florida's shopping malls to buy clothes and electronics, are now flocking to real estate offices to snatch up apartments and homes at bargain-basement prices. 

The investors, mainly from Europe and Latin America, are jostling over apartments in Miami's trendy South Beach neighborhood selling for 70,000-100,000 dollars, and in less exclusive areas to the north where they start at around 50,000.

"The buying opportunities are maybe the best ever. Who knows if we'll see prices again like today's in Miami Beach," Keys Real Estate agent Michelle Iglesias told AFP.

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