International Real Estate Investors Choose U.S. Properties According to Tom Tsilionis
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International Real Estate Investors Choose U.
S.
Properties According to Tom
Tsilionis
Research by Tom Tsilionis shows popularity of U.
S.
real estate among foreign buyers
Roseland, NJ, March 19, 2009 -- The weakening U.
S.
dollar and...
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International Real Estate Investors Choose U.
S.
Properties According to Tom
Tsilionis
Research by Tom Tsilionis shows popularity of U.
S.
real estate among foreign buyers
Roseland, NJ, March 19, 2009 -- The weakening U.
S.
dollar and declining home values
are largely discouraging for American homeowners.
For international real estate
investors, however, such conditions present opportunity.
Foreclosure Specialist and
Trainer, Thomas Tsilionis recently released the 2009 TSI REPORT to 85,000 members
of The Association of Commercial Real Estate Professionals (ACREPRO).
The TSI
Report is generated March 1 and September 1 each year and includes a section that
relates to International Home Buying Activity.
"TSI estimates that between 150,000 and 190,000 homes were sold to foreign
nationals from February 2008 and February 2009," according to the TSI press release
on the findings.
"Recent foreign buyers purchased properties in every state and the
District of Columbia.
The most popular states where international buyers purchased
homes are Florida, California and Texas.
Arizona, New York, Washington and Nevada
were also popular.
"
Nearly half of the properties purchased by foreign buyers were located in the
South; 25.
4 percent of all property sales to foreign buyers occurred in Florida
alone.
(For more information on foreign investment in Florida s real estate market,
please see our previous article, Florida is the new Europe.
)
Foreigners who invest in U.
S.
real estate also differ from their domestic
counterparts in other ways.
They tend to buy more expensive properties than
domestic real estate investors, and are more likely to purchase a condo or townhome
than domestic real estate investors.
Foreign buyers purchase properties that cost
an average of 36 percent more than domestic buyers, and 14 percent of properties
purchased by foreigners cost $750,000 or more, according to the findings.
Investors from China were the most likely to purchase properties at $1 million and
more, with 14 percent of Chinese buyers doing so.
The median price paid by real
estate investors from China was $450,000, the highest median of any location in the
report.
"People from North America, Europe and Asia accounted for more than 85 percent of
recent foreign home buying transactions.
The top six countries of origin for
foreign home buyers, in rank order, were Canada, the United Kingdom, Mexico, China,
India and Germany," according to TSI s press release.
"This year, Canada replaced
Mexico as the country with the largest share of foreign buyers in the U.
S.
The
percentage of Canadian buyers doubled from last year, from 11 percent to 23.
5
percent.
"
The research included in the study covers the period between February 2008 and
February 2009 and was based on responses from about 4,000 Realtors who work with
international real estate investors.
Such foreign buyers were defined as those who
aren t classified as foreign-born residents of the U.
S.
, and who principally reside
out of the U.
S.
Contact:
Thomas Tsilionis
Thomas Tsilionis, Writer Speaker & Trainer
Roseland, NJ
973-547-2625
tsilionis@live.
com
http://www.
tsilionis.
com
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