Foreign investment in the US real estate market.
Year-in year-out Realtors in the Bay Area deal quite a bit with
foreign buyers. It is interesting to keep some perspective on this
phenomenon at the national level.
From March 2013 to March 2014, foreign purchases in US real
estate increased 26% from the year before, to a total of $92.2 billion
(National Association of Realtors Profile of International Home Buying
Activity).
4 states accounted for 55% of the total: Florida,
California, Arizona and Texas.
Nearly 60% of reported international transactions were all cash,
compared to just one-third of domestic home purchases. - Still 1/3 is an impressive number!
54% of all international transactions last year came from Canada,
China, Mexico, India and the U.K.
Clearly, the United States remain a destination of choice for investors for its stability, and future prospects.
Separately, but still relevant to this subject, it is good to note that the foreign-born population by state looks like this:
- California: 25.4%
- New York: 10.8%
- Texas: 10.4%
- Florida: 9.2%
- the rest (~44% ) is divided between the other states.
Clearly, the United States remain a destination of choice for investors for its stability, and future prospects.
Separately, but still relevant to this subject, it is good to note that the foreign-born population by state looks like this:
- California: 25.4%
- New York: 10.8%
- Texas: 10.4%
- Florida: 9.2%
- the rest (~44% ) is divided between the other states.
Do you have an input on the subject? Please let me know.!
Thanks for reading.
Francis
