Foreign buyers have always been an important part of the U.S. luxury real estate market, but gauging where they are from can be difficult because many use shell companies domiciled in the U.S.
Some international buyers, however, are named in their transaction records, allowing for an examination of their countries of origin and in which neighborhoods they are investing most.
Its very hard to figure out where all that international money is coming from — and where it’s going — The Real Deal examined NYC records of real estate transactions. The analysis was of residential sales to named buyers with addresses outside the U.S. over two years through Oct. 25, 2023. We excluded any purchases made through LLCs or other corporate entities, which greatly reduced the number of international deals in the sample.
Sifting through the remaining 191 transactions totaling nearly $310 million in volume, TRD found that the most common country of origin for foreign buyers was on our northern border.
1. Canadians purchased the most residential properties in the sample, both by number (31) and volume ($43 million, or 15 percent of the total).
2. The second most common country was the United Kingdom. Brits accounted for over 10 percent of the total with nearly $33 million in volume across 16 deals.
3. Next was France, whence buyers spent just under $20 million on 14 homes.
4. followed closely in volume by the Netherlands.
Dutch buyers in the sample dropped over $18 million on city homes in the past two years. That was spread across just six deals.
Source: The Real Deal
Updated: Boston condos for sale website 2023
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Yes, the foreign buyers are back again, and yes there even buying up Boston condos for sale.
From TIME magazine:
Foreign buyers are snapping up U.S. real estate at bargain prices.
Dubai investors bought the General Motors Building in New York City for $2.8 billion. The Abu Dhabi Investment Council’s sovereign wealth fund bought a 90 percent stake in the landmark Chrysler Building.
In all, foreigners spent $52.2 billion on U.S. commercial real estate in 2007, double the previous year’s total, according to Real Capital Analytics, a research group based in New York City that tracks property investment.
Source: Foreigners Take Advantage of U.S. Bargains – TIME magazine by way of Realtor.org