International Buyers in Hawaii
Hawaii purchases by international buyers will be important in 2011. The growth in wealth around the world will help fuel demand for foreign buyers to purchase in Hawaii and the U.S. in general. The U.S. is still viewed as a safe haven for investment.
Visa challenges and other governmental issues may moderate international demand, but the potential is strong.
The U.S. second home market will benefit from this. Some foreign second home markets are still overbuilt (Dubai) or dealing with ownership issues (Spain). Economic problems in Europe and the resulting austerity problems will dampen recovery in 2011.
Prime property in prime locations (especially waterfront with private docks or marina access) will lead the rebound when it comes.
Although many speculate that with the recent disasters in Japan, that this will dampen Japanese purchasing of Hawaii luxury properties. Although it is still too soon to be certain, we are currently observing just the opposite, with Japanese visits to Hawaii and Oahu increasing along with their purchase activity.
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