Investment: Land in the Sun

In the past decade, no fewer than a million Americans seeking the sun have bought homes in Florida. Even more have taken the half step of buying land —for retirement, for future vacations, or merely for an investment. Now the trend is spreading overseas. From Caracas to Hong Kong, thousands of foreigners are buying palm-fringed lots in Florida, a place that most of them have never seen.

Bargain Investments. Many of today's foreign buyers are Europeans (mostly Germans, followed by the Dutch, Belgians and Swiss) impelled partly by a desire to escape...

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