International Real Estate Market Expanding
International Real Estate Market Expanding
In these 92.2 Billion approximately 5.5 Billion were sales commissions, how much did you profit? And how much do you expect to profit by March 2015?
For the period April 2013 through March 2014, the total sales volume to international clients (“international sales”) has been estimated at approximately $92.2 billion, a 35 percent increase from the previous period’s level of $68.2 billion. Compared to the previous year, sales to foreigners increased both in numbers of transactions and in average price.
For the period April 2013 through March 2014, the total sales volume to international clients (“international sales”) has been estimated at approximately $92.2 billion, a 35 percent increase from the previous period’s level of $68.2 billion. Compared to the previous year, sales to foreigners increased both in numbers of transactions and in average price.
International buying activity apparently was bolstered by continued rising affluence in China, Canada, India, Mexico, and the United Kingdom. In addition, the appreciation of the Chinese yuan and the British pound also made the purchase of U.S. property increasingly affordable for residents of those countries. 3 Purchasing a U.S. property remains affordable with prices still below the peak level attained prior to the Great Recession (December 2007—June 2009). Tight credit standards in the U.S. have also favored buyers paying with cash or making high down payments when presenting a contract for sale. International clients frequently pay cash.
What countries are Buying?
Five countries have historically accounted for the bulk of the reported purchases: namely, Canada, China (PRC, Hong Kong, Taiwan), Mexico, India, and the United Kingdom. In the latest survey, these countries accounted for approximately 54% of the reported international transactions from 61 countries. Canada still accounts for the largest hare of clients, but China is the fastest growing source of clients, now accounting for 16% in the period ending March 2014, up from 9% since this data was collected in 2007.
Source: WGPAS.com
For all of your real estate needs call Ruth Kruger, International Real Estate Specialist today at 970.404.4000.
