Top Destinations for Foreign Buyers
Four states alone have accounted for 55 percent of the total purchases by international buyers recently: Florida, California, Arizona, and Texas.
The following are the top destination states for foreign home buyers and investors:
- Florida, which has a 23 percent share of all foreign purchases
- California, a 14 percent share
- Texas, a 12 percent share
- Arizona, a 6 percent share
The top five cities searched online by international buyers in 2014 were: Los Angeles, Miami, Las Vegas, Orlando, and New York, according to a separate analysis by realtor.com®.
International buyers are coming to the United States from all over the world, but the highest interest in U.S. property is being driven by Canada, China (The People’s Republic of China, Hong Kong, and Taiwan), Mexico, India, and the United Kingdom, which accounted for about 54 percent of all reported international transactions.
Canadian residents continue to have the largest share of U.S. purchases, but dropped their share from 23 percent in 2013 to 19 percent in 2014. Buyers from China hold the lead in dollar volume, purchasing an estimated $22 billion with an average sale cost of $590,826, according to the NAR study. China was also the fastest-growing source of transactions, now accounting for 16 percent of all purchases, up 4 percent from last year.
For more about Miami Real Estate of to find a Miami home to purchase contact Stephanie Leon Broker and Founder of Realty Empire.