I found this article at NAR.org and was very surprised by the national numbers. Being in Hawaii we have a large international market ... I was not aware that the international market spread so far. I found this article interesting and hope you all do as well. Aloha
REALTORS® Reach out to International Buyers
Washington, April 11, 2008 - As the falling dollar makes the U.S. second-home market more attractive to international buyers, the National Association of Realtors® is joining with the Salon Immobiliario de Madrid, Europe’s largest home and resort exposition, to educate potential buyers about U.S. real estate investment options.
More than 100,000 homes are sold to foreigners annually in the international second-home market, particularly to buyers from Europe, North and South America, Africa and the Middle East. Current valuations of the U.S. dollar against foreign currencies have made U.S. property one of the world’s great bargains, and the prestige of owning U.S. property remains high.
“This is our fifth year participating in the SIMA event, which draws investors from more than 50 countries,” said Miriam Lowe, NAR’s vice president of international affairs. “As the leading advocate for real estate in this country, NAR welcomes this opportunity to educate overseas buyers about the benefits of real estate investment in the United States.”
The Florida Association of Realtors®, the Realtor® Association of Greater Miami and the Beaches, and the Sarasota Association of Realtors® are joining NAR as sponsors of the SIMA trade show.
In a 2007 NAR study, 18 percent of all Realtors® surveyed had at least one client involved in an international transaction in the previous year. An additional 14 percent had international prospects that had not yet completed a transaction. In Florida, the numbers were considerably higher; 65 percent of Realtors® in the Sunshine State had foreign clients in the previous year.
“Fifteen percent of all Florida home sales now involve foreign purchasers,” said Lowe. “In part, this interest in the United States stems from the fact that more and more people in different nations recognize the value of owning real property, and our country represents one of the best and safest places to make such an investment,” she said.
The SIMA international second-homes exposition takes place April 8-12 in Madrid. The event attracts resort developers and second-home investors from around the world and features more than 800 trade exhibitors.
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.3 million members involved in all aspects of the residential and commercial real estate industries.
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