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High demand for U.S. real estate in 10 countries

 

NEW YORK – April 16, 2014 – Foreign buyers are being lured to U.S. real estate because they consider it to have bargain prices, economic stability and a "safe haven for investors," 24/7 Wall St. reports. Interest in U.S. real estate from international buyers in 10 countries has soared since 2009 by 95 percent or more. In nine of those countries, the interest has at least doubled, according to data from RealtyTrac.

"The U.S. real estate market is coming off of a rough patch and entering recovery mode," says Daren Blomquist, RealtyTrac's vice president. "International buyers see it as a great time to jump in and catch the U.S. market on the upswing."

24/7 Wall St. compiled data from RealtyTrac to find that the following countries are showing the highest increases in interest in purchasing American homes.

1. United Arab Emirates
Growth in prospective homebuyers: 352.2%
Share of international prospective buyers: 1.1% (12th highest)

2. Switzerland
Growth in prospective homebuyers: 269.7%
Share of international prospective buyers: 2.1% (8th highest)

3. Hong Kong and China
Growth in prospective homebuyers: 254.2%
Share of international prospective buyers: 4.1% (4th highest)

4. France
Growth in prospective homebuyers: 190%
Share of international prospective buyers: 2.8% (6th highest)

5. Italy
Growth in prospective homebuyers: 178.4%
Share of international prospective buyers: 1.9% (10th highest)

6. United Kingdom
Growth in prospective homebuyers: 153.8%
Share of international prospective buyers: 12.1% (2nd highest)

7. Australia
Growth in prospective homebuyers: 121.9%
Share of international prospective buyers: 11% (3rd highest)

8. Canada
Growth in prospective homebuyers: 107.7%
Share of international prospective buyers: 45% (the highest)

9. Sweden
Growth in prospective homebuyers: 100.0%
Share of international prospective buyers: 2.0% (9th highest)

10. Germany
Growth in prospective homebuyers: 95.2%
Share of international prospective buyers: 2.6% (7th highest)

Source: "10 Countries Racing to Buy American Homes," 24/7 Wall Street (April 11, 2014)

© Copyright 2014 INFORMATION, INC. Bethesda, MD (301) 215-4688

 

Related Topics: International