Posts Tagged ‘European real estate buyers’

SW Florida Real Estate and Beyond: Who in the World is Buying Real Estate in the U.S.?

Wednesday, April 16th, 2014

To search for luxury homes for sale in Naples, Bonita Springs, Estero or Marco Island, Florida, click HERE.

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According to a recent report from RealtyTrac, foreign investors in U.S. real estate has increased significantly since 2009.  There are 10 countries specifically where buyers of U.S. real estate have increased by 95 percent or more.   In 9 of those countries, interest has doubled as well.  24/7 Wall St. compiled data from the RealtyTrac Report to give us the  top  countries showing the highest increase in interest in purchasing U.S. homes.

The top country is Canada, which is not surprising to the Southwest Florida market! Our Canadian friends are frequent visitors and purchasers of homes in Southwest Florida! Here are the top 3 countries

Canada
Growth in prospective home buyers: 107.7%
Share of international prospective buyers: 45% (the highest)

United Kingdom
Growth in prospective home buyers: 153.8%
Share of international prospective buyers: 12.1% (2nd highest)

Australia
Growth in prospective home buyers: 121.9%
Share of international prospective buyers: 11% (3rd highest)

Why are these countries racing to the U.S. to buy? It was reported that these buyers perceive the U.S. as “bargain” prices, economic stability and a “safe haven for investors.”

See the full list at  10 Countries Racing to Buy American Homes.

Are you a foreign buyer interested in buying a home if Southwest Florida? Let a John R. Wood Agent help you navigate the market!

Click HERE to contact an agent right now!

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Naples Real Estate & Beyond: International Buyers Continue Buying in the U.S.

Friday, June 15th, 2012

The National Association of REALTORS® 2012 Profile of International Home Buying Activity Report was just released.  Overall, it seems that international buyers continue to see the U.S. as a desirable place to own property and make a profitable investment. The survey asked REALTORS® to report their international business activity within the U.S. for the 12 months ending March 2012.

Some of the report highlights include:

  • Total residential international sales in the U.S. for the past year ending March 2012 equaled $82.4 billion, up from $66.4 billion in 2011.
  • Total international sales were evenly split between non-resident foreigners and recent immigrants.
  • International buyers bought homes throughout the country, but four states accounted for 51 percent of the purchases –Florida has been the fastest growing destination of choice, accounting for 26 percent of foreign purchases.
  • Proximity to the home country, the presence of relatives and friends, the convenience of air transportation, and climate and location are all important considerations to prospective foreign buyers.
  • Florida attracts a diverse set of international buyers including South Americans, Europeans and Canadians.
  • International buyers came from all over the globe, but Canada, China (The People’s Republic of China including Hong Kong), Mexico, India, and the United Kingdom accounted for 55 percent of all international transactions, according to the survey.
  • Canada and China remain the fastest-growing home countries. Canada accounted for 24 percent of international sales while China accounted for 11 percent, up from nine percent in 2011. Mexico was third with eight percent of sales and India and the U.K. both accounted for six percent.

 

Forty-five percent of international purchases were under $250,000. In addition, there appears to be a gradual increasing trend toward purchases in the $250,000 to $500,000 price range. In 2012 this range accounted for 30 percent of purchases, up from 28 percent in 2011. The average price paid by an international buyer was $400,000 compared to the overall U.S. average of $212,000.  Sixty-two percent of international purchases were all cash, which has increased since 2007.

REALTORS’® specialization on the buyer’s side of the market – such as foreign language capabilities, cultural affinity or orientation with the prospective purchaser and experience in explaining the U.S. real estate – appear to be important in working with foreign buyers.

Are you ready to buy/invest in Southwest Florida?

To search for real estate in Naples, Bonita Springs, Estero or Marco Island, Florida, click HERE.

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Foreign buyers account for 25% of home sales in South Florida

Friday, October 21st, 2011

According to CNN Money‘s article in today’s edition, foreign buyers are increasing here in the U.S. and there is a new Senate bill emerging that will make it even easier for foreign buyers to take advantage of American real estate.  The bill is co-sponsored by Charles Schumer (D-NY) and Mike Lee  (R-Utah) and states that a U.S. Visa will be granted to international investors who agree to spend at least $500,000 on resdential real estate in the U.S. If passed, this could mean a surge in real estate sales, especially in regions like Naples, Florida and other Southwest Florida cities that have already seen an influx of international buyers.

According to the National Association of Realtors (NAR), foreign buyers, spent $82 billion dollars buying U.S. homes in the 12 months ended in March, up 24% from a year earlier, represeting 8% of total U.S. sales.  In Southwest FLorida,  foreign buyers already account for 25% of residential sales.  Condo sales have been surprisingly accoring to Metrostudy, a housing analytics company, and the majority of those sales are to South Americans and Canadians.

International buyer activity has been great for the Florida market. Housing starts were up nearly 20% in the three months ended Sept. 30, according to Metrostudy.  Even better for homeowners, foreign sales can be very easy beacause the buyers are often affluent and buy more expensive homes.   And, overwhelmingly, international buyers pay cash.

The Senate bill would require buyers to pay cash for the homes to qualify for the new “homeowner” visa.  They’d also need to pay U.S. taxes and spend at 180 days a year in the country, and can’t work here or take out home-equity loans against the properties. In return, they’d get to live here for at least three years.

However, foreigners seem to have more confidence in the U.S. real estate market than Americans do. Almost half of buyers surveyed by NAR cited the profitability or safety of their investments as the main factor that persuaded them to buy.  With the economic distress in Europe, it seems that people are still looking for safe havens for investing and the U.S. is perceived globally as safe.

To find homes for sale in Southwest Florida, click HERE.

John R. Wood Realtors, Inc. – The Symbol of Local Knowlege