International buyers snapped up $92.2 billion of property in the United States from April 2013 to March 2014. The number for the previous year was $68.2 according to the National Association of Realtors. The growth is attributed to better exchange rates, lower real estate prices and increasing affluence of foreign buyers.
Other interesting tidbits about where and what the international set is purchasing in the United States:
Four states accounted for 55% of the sales–Florida, California, Arizona and Texas.
Top city online searches by international buyers were Los Angeles, Miami, Las Vegas, Orlando and New York City.
Nearly 60% of 2014 reported sales to international buyers were all cash transactions. Domestic purchases average approximately one-third all cash.
Approximately 65% of the purchases were single family homes.
China is the fastest growing source of sales accounting for 16% of total sales, up from 12% the previous year.
Charlemagne International Properties is currently working with several international buyers. We market our listings and local Palos Verdes and South Bay real estate to the global community via our real estate blog that is read in over 100 countries around the world.