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International Clients Bolstering US Real Estate Sales



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By : Rob Thomson    99 or more times read
Foreign buyers are showing increased interest in purchasing US properties. The recent economic crisis has resulted in greatly depreciated values of real estate, and savvy investors from around the globe are taking notice.

In certain regions of the country real estate values have been cut by up to 70%, which in itself is a good reason to buy here; however, there are other factors contributing to this trend. Much of the activity is in Florida where buyers are looking for either investment properties or sunny retirement opportunities. Many sunny destinations are in countries that are politically unstable, have investment restrictions, and are considered to be unsafe from a personal standpoint. The US has limited restrictions on foreign ownership, enjoys a desirable quality of life and presents very little risk for out of country buyers. A devalued US currency, which is giving foreign buyers greater purchasing power, and historically low interest rates are making the deals even more appealing.

Buyers from the UK appear to be growing in numbers and are joining the estimated 40,000 of their countrymen who already own property in Florida. This upsurge in offshore activity has prompted a Florida realtor do develop a website that caters specifically to UK buyers. Canadians are also taking advantage of the great opportunities south of their border. The Canada Pension Plan Investment Board has recently acquired over $500 million worth of commercial real estate state side and continues to shop for heavily discounted properties. A strong Canadian dollar (hovering close to par with the $US), combined with high property values in the Northern nation have contributed to increased buying power at the consumer level in the US market as well.

The economic woes in the United States are proving to be a golden opportunity for foreign investors. A recent Bloomberg survey conducted on global investors has indicated that the US is now the most promising economy for investment opportunities (that is more than double the rating from a similar survey conducted last October). Almost 40% of those polled chose the US over the other major emerging markets in the world; Brazil, China and India.

It is difficult to gauge how quickly the US real estate market will rebound, if it does at all, and only time will tell if these foreign investors will see a healthy return on their investments. With the massive amounts of foreclosures in the country, and continued unemployment issues, it does not appear as though things are going to turn around anytime soon; however, with a steady influx of global buyers the recovery may happen much sooner than anticipated.
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