NAR’s yearly Profile of Home Buying Activity of International Clients has collected information on why foreign buyers are interested in U.S. properties.
- Canadians tend to buy in Arizona, Nevada and Florida—apparently seeking winter vacation opportunities. Cities recently reported by realtor.com include Fort Lauderdale, Orlando, Las Vegas, Los Angeles, Miami and Naples.
- Chinese buyers are strongly focused on the west coast, which provides geographical proximity, educational opportunities, and business and trade opportunities for example, Los Angeles, San Francisco, Seattle, as well as New York and Houston. Many of the purchases are for business, educational and investment purposes, although there is also interest in vacation homes.
- Indians purchase throughout the country, much less concentrated in purchases than other nationalities. Cities mentioned include New York, Los Angeles, San Jose, Dallas and Chicago. Given the lack of areas generally mentioned as resort/vacation locales, REALTOR® comments that many purchases by Indian buyers are business oriented seem to be on target.
- Mexicans are particularly interested in Texas. Cities include San Antonio, Houston and El Paso, as well as San Diego and Miami. Investment, proximity, and lifestyle are of interest, as well as a desire in some cases for vacation homes.
- U.K. citizens focus on both vacation and work oriented areas: Los Angeles, New York, Orlando, Kissimmee, Houston and San Francisco have featured prominently in recent searches.
Source: National Association of REALTORS®
