NAR (The National Association of Realtors) reports that most foreign investors tend to purchase resale property (as opposed to new construction). That coincides with the stats for real estate sales and purchases all across the United States, by both foreign buyers and Americans.
According to the 2010 figures from NAR … foreign buyer specific: 11 percent of U.S. purchases by international investors were for new construction … while 89 percent was for resales of existing homes….
The figures for 2011 show an increase in new construction sales, with 15% of all sales being for new construction… up 4% from last year.
In 2011, foreign buyers also leaned heavily in favor of condo purchases, as opposed to single family homes. Statistics continue to show approximately 50% of all international investors opt to buy condos (as opposed to single family homes) … 12 % more in 2011 than in 2010.
Would you like our help, buying or selling real estate in South Florida… or elsewhere? We would love to work with you … whether directly or by referring you to a top real estate agent in some other area! Please give us a call. Alexandra and Vicki Restivo … We look forward to hearing from you! 305 793-1365
