Foreign Investment in United States real estate has experienced a large increase lately. Between April 2016 and March 2017, recent immigrants and foreign buyers have made massive purchases of residential properties. In fact, the amounts exceed $153 billion. (Exactly how many zeroes is that?) This is a forty nine percent increase over the prior twelve months. With all of the uncertainty, both political and global economical, people who had money to invest began looking for some very safe investments. And the demand for U.S real estate rose.
And while the usual suspects were behind the rise in U’S real estate investment, investors from a surprise country has stepped up and over doubled the investments from the prior year. Who is it? Get ready…
Canada. Canadians are largely purchasing vacation homes in warm weather states. How is that for a surprise?
But by far investors from the country purchasing the largest dollar amount of U.S. real estate remains China. China has been making the largest investment for four consecutive years.
What states are experiencing the highest activity from foreign investors? Florida, Texas and California.
But other areas are still drawing many foreign buyers. Seattle is experiencing heavy new job creation in the tech industry. This in turn is drawing many buyers from China.
Another incentive for foreign investors is legislation which rewards foreign investors with permanent residency in the U.S. This program is currently for investors who are spending in excess of $500,000.
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