REBLOG

Foreign Investors in U.S. Real Estate

Global Macro Monitor

Good piece in the IBD last week on foreign investment in U.S. real estate.

Money quotes:

…“Many foreign buyers now see luxury U.S. real estate as a store of value,” said Dolly Lenz, CEO of her namesake real estate firm. “It’s like a safety deposit box with gorgeous views.”

The Chinese were the biggest foreign buyers of U.S. real estate last year, in dollars, but Canadians ranked first in transactions, says the National Association of Realtors.

International sales reached $92.2 billion (April 2013 through March 2014), an increase of 35% from the prior 12-month period.

…“We’re seeing more buyers than ever before from China, Singapore, Malaysia and India, who are purchasing both residential and commercial property in NYC, including trophy homes,” Lenz said.

…the Ukraine and Russia has “reduced participation by the normally active Russian buyer.”

In Florida, South Americans, particularly Argentinians, have been active developing and buying…

Voir l’article original 96 mots de plus

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