CNBC has a great video on just how big the foreign investor market really is. Topping the list of cities of interest is our very own Los Angeles for investors looking for Beverly Hills Luxury Real Estate.
“41 billion and climbing. that’s how much foreign buyers are spending. now there’s a far clearer way to see exactly where that money is going.. falling home prices may be plaguing the u.s. economy, but candy to foreign investors who already have the weak dollar on their side foreign buyers spent roughly $341 billion on u.s. real estate. that number is climbing. now new insights into which markets are drawing which buyers. a new report tracked how different nationalities are searching the top five cities of interest. canada, uk, australia, france and germany. let’s break it down to number one. the uk leads, australia, germany and france, but head south to san diego, and potential buyers are from mexico, japan and china. in miami, which ranks number six among foreign buyers — prices now in the united states are generally 30% to 40% off from the peak. in addition to that, the weakness of the dollar gives the japanese an advantage, as it does the europeans of another 20% to 25% off. so they’re seeing real bargains, and opportunities. and the opportunities have foreign investors searching really all over the u.s. map.”