International real estate activity within the state of California continues to be robust in 2015:
- Realtor.com reports that foreign investors represent a whopping 8% of total existing homes sales (dollar volume) in the US.
- Foreign buyers pay almost double the national average per house.
- The four US states that account for over 50% of international sales are California, Florida, Texas, and Arizona.
- 7% more Realtors reported working with international investors in 2015 (compared to the previous year).
International Home-Buying Activity is Up
NPR podcasting reports in 2015 that Los Angeles is becoming a global market like Manhattan.
Among the home buyers from other countries, China investors continue to be among the most active.
Los Angeles is an insiders’ city. Many aspects of day-to-day living in the Los Angeles area are not easily apparent to foreign investors – unless they’re already living here full-time. If you have specific questions about the Los Angeles lifestyle and its real estate, phone David Findley at 310-345-6911.
Foreign Investors are buying real estate in Southern California.
Foreign Investors Paying Cash for Second Homes
The majority of foreign investors intend to use the home they purchase in the US as either a vacation home or a rental investment property:
- Most are established investors who pay for the extra home in cash.
- They choose the home primarily for its location. California and Hawaii are perceived as particularly desirable locations (for the US state of Hawaii, the Japanese top the list of foreign buyers – investing over $70 million in Hawaii residential real estate in 2015 – in only the first half of the year).
- Most of the buyers have their “first homes” located in either Canada, Asia, or Europe.
- What’s different today compared to years past in that a significantly larger portion of foreign real estate investors are coming from South America.
We provide our FREE Quality of Life Newsletter to help start you on the new leg of your journey to robust health and increased prosperity. Subscribe now, and you’ll instantly receive access to our downloadable report, containing surprising strategies to help you better manage your time, energy and nutrition.