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Modern Land Grab: Where & Why Are Foreigners Buying U.S. Real Estate

FOR SALE MODERN LAND GRAB WHERE &WHY ARE FOREIGNERS BUYING U.S. REAL ESTATE? We may be too busy worrying about a double-dip in housing values and lamenting the fact that our homes are now worth what they were back in 2002. But that isn't deterring foreigners from purchasing our land. In fact, nearly 8% of all existing homes sold between March 2010 and March 2011 were purchased by foreign buyers, according to the National Association of Realtors. Why are foreigners buying U.S. property? What countries are buying the most? And in what states are they most interested in buying? We've got the answers. INTERNATIONAL SHARE OF U.S. HOME SALES Existing U.S. home market*: International Share: $1.07 TRILLION $82 BILLION (7.7) *March 2010-March 2011 WHERE DO FOREIGN BUYERS COME FROM? ASIA NORTH AMERICA FUROPE 24% 26% 31% MIDDLE EAST 3% CENTRAL AMERICA 2% AFRICA SOUTH AMERICA 3% 11% IN WHAT STATES ARE FOREIGNERS BUYING THE MOST PROPERTY? 31% 12% 17% (Combined WASHINGTON NEW YORK PENNSYLVANIA NEW JERSEY NEVADA ILLIONOIS CALIFORNIA VIRGNIA NORTH CAROLINA TENNESSEE ARIZONA GEORGIA TEXAS HAWAII FLORIDA HOW MUCH ARE FOREIGNERS SPENDING ON PROPERTY? Amount Spent 5% 10% 15% 20% LESS THAN 100K 18% $100K - $150K 13% $150K - $200K 14% $200K - $250K 9% $250K - $300K 10% $300K - $400K 10% $400K - $500K 8% $500K - $750K 9% $750K - $1M 6% $1M + 5% TYPE OF PROPERTY PURCHASED DETACHED SINGLE FAMILY I 61% CONDO / APARTMENT I 26% TOWNHOUSE I 10% .. COMMERCIAL PROPERTY I 3% HOW DO FOREIGN BUYERS INTEND TO USE THEIR PROPERTY? WHY ARE FOREIGNERS BUYING U.S. REAL ESTATE? HOW ARE THEY PAYING? Primary Residence 37% | It's in a desirable location 43% I Cash 62% I Vacation home for family and friends It's a profitable investment 27% Mortgage Financing 36% 28% It's a secure investment I Don't Know 21% 2% I Residential rental property for investment 16% I Other 9% I Vacation home and rental property for investment 13% I Commercial rental property for investment I Don't Know 2% credit sesame Source BY

Modern Land Grab: Where & Why Are Foreigners Buying U.S. Real Estate

shared by Angel on Mar 26
Certain areas of the country are hot for foreign buyers of real estate and according to the info on this real estate infographic, 62% of them are buying real estate with cash. Find out if you are soo...



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