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International Real Estate Investors Choose U.S. Properties According to TomTsilionisResearch by Tom Tsilionis shows popularity of U.S. real estate among foreignbuyersRoseland, NJ, March 19, 2009 -- The weakening U.S. dollar and declining homevalues are largely discouraging for American homeowners. For international realestate investors, however, such conditions present opportunity. ForeclosureSpecialist and Trainer, Thomas Tsilionis recently released the 2009 TSI REPORT to85,000 members of The Association of Commercial Real Estate Professionals(ACREPRO). The TSI Report is generated March 1 and September 1 each year andincludes a section that relates to International Home Buying Activity."TSI estimates that between 150,000 and 190,000 homes were sold to foreignnationals from February 2008 and February 2009," according to the TSI pressrelease on the findings. "Recent foreign buyers purchased properties in everystate and the District of Columbia. The most popular states where internationalbuyers purchased homes are Florida, California and Texas. Arizona, New York,Washington and Nevada were also popular."Nearly half of the properties purchased by foreign buyers were located in theSouth; 25.4 percent of all property sales to foreign buyers occurred in Floridaalone. (For more information on foreign investment in Florida's real estatemarket, please see our previous article, Florida is the new Europe.)Foreigners who invest in U.S. real estate also differ from their domesticcounterparts in other ways. They tend to buy more expensive properties thandomestic real estate investors, and are more likely to purchase a condo ortownhome than domestic real estate investors. Foreign buyers purchase propertiesthat cost an average of 36 percent more than domestic buyers, and 14 percent ofproperties purchased by foreigners cost $750,000 or more, according to thefindings.Investors from China were the most likely to purchase properties at $1 million andmore, with 14 percent of Chinese buyers doing so. The median price paid by realestate investors from China was $450,000, the highest median of any location inthe report."People from North America, Europe and Asia accounted for more than 85 percent ofrecent foreign home buying transactions. The top six countries of origin forforeign home buyers, in rank order, were Canada, the United Kingdom, Mexico,China, India and Germany," according to TSI's press release. "This year, Canadareplaced Mexico as the country with the largest share of foreign buyers in theU.S. The percentage of Canadian buyers doubled from last year, from 11 percent to23.5 percent."The research included in the study covers the period between February 2008 andFebruary 2009 and was based on responses from about 4,000 Realtors who work withinternational real estate investors. Such foreign buyers were defined as those whoaren't classified as foreign-born residents of the U.S., and who principallyreside out of the U.S.Contact:Thomas TsilionisThomas Tsilionis, Writer Speaker & TrainerRoseland, NJ973-547-2625
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