Foreign property buyers in the U.S. made US$92.2 billion worth of purchases in the 12 months ending March 2014, accounting for roughly 7 percent of all property transactions in the country.
According to data released by the National Association of Realtors, foreign sales were split evenly between resident and non-resident foreigners
Less than one-third of all real estate agents reported having international clients, while 4 percent reported as have 11 or more overseas customers.
Some 20 percent of surveyed agents said the overseas market had increased over the past 5 years, compared to 6 percent who reported it had declined.
The report also noted that foreign property buyers in the United States are considered to be upscale, meaning the purchase price is generally above that paid by domestic buyers.
Just five countries (Canada, China, Mexico, India and the U.K.) accounted for 54 percent of all foreign property sales, according to the survey.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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