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| Unprecedented Surge: Foreign Buyers Snap Up U.S. Real Estate |
RECBL - Real Estate News
Foreign investments in U.S. real estate have surged nearly 50 percent as of late, according to the 2017 Profile of International Activity in U.S. Residential Real Estate from the National Association of REALTORS(R) (NAR).
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The report shows that between April 2016 and March 2017, foreign buyers and recent immigrants purchased over $150 billion in residential property-$153 billion, to be exact. Marking a new survey high, this boost is a 49 percent increase from last year’s $102.6 billion rank.
"In the face of global economic and political uncertainty-that is, Venezuela upheaval, Brexit, Syrian refugees, Russia meddling, and even the very nasty U.S. Presidential election campaigning-people with money were searching for something very safe," says Lawrence Yun, NAR chief economist and senior vice president of Research. "As a consequence, both the demand for U.S. Treasury bonds and U.S. real estate rose."
While the report shows an influx of buyers from the top five countries...
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