from around the world
Foreign buyers remain
enamoured with U.S.
Fiscal and economic worries aside, international property buyers still look to the United
States more than any other nation when
it comes to seeking safe havens in which
to invest, a survey shows. According to the
California Association of Realtors (CAR) “2013
International Clients Survey”, in fact 85% of
international buyers say the U.S. was their only
consideration, pointing to its stable government and financial system. The remainder
said they looked to Canada, Germany, Mexico,
China, Singapore, Sweden and France as safe
havens to invest in real estate.
However, America’s National Association of
Realtors revealed that total residential property
transactions fell in 2013 from a year earlier,
from $82.5 billion to $68.2 billion.
Besides the attraction of stability, foreign
buyers were enticed by desirability of location
and climate, as well as being closer to family
and friends (both 20%), investment opportunities (9%), work changes (9%), educational
opportunities (6%) and affordability (4%). The
investors were anticipating long-term investment and tax advantages (18%) and rental
Among the states, Florida welcomed the
most foreign buyers in 2013. In total, Florida
welcomed 23% of all non-resident buyers of
U.S. real estate, with California at 17%, and
Arizona and Texas both at 9%.
Meanwhile, more than two-thirds of the
foreign buyers paid cash for their purchases,
compared to just 27% of domestic buyers.