Many countries' residents have their eye on the US. After all, that is how our country was formed. We're a melting pot of all nationalities. While Chinese buyers have made up the majority of the foreign money entering our housing market, that tide is about to shift. China has tightened restrictions on how much capital residents can spend outside the country causing some markets to see a drastic decrease in Chinese buyers. Between April 2016 and March 2017, Chinese buyers spent $31.7 billion in US residential real estate!
While we won't be seeing numbers like that from the Chinese per say, other countries will be filling that void. We're now seeing more buyers coming from Taiwan, Vietnam, and Thailand and investors from Dubai, Kuwait, Georgia, and Turkey. People are realizing the stability and security of the US real estate market now more than ever before and that is attracting a lot of foreign investors and buyers alike.
Luxury multi-units going up in Los Angeles see a large number of foreign buyers like the Four Seasons Private Residences project in Beverly Hills that expects more than 70 percent of its buyers to be foreign. Southern California specifically is seeing an increased number of buyers from Great Britain as well.
As the foreign buyer group changes, US-based real estate still continues to expand as international buyers are branching out to places like Miami or other areas just beyond the beaches or downtown areas. Foreign buyers make up a significant part of the luxury market in the US and we can expect to see that continue to increase as the pool of buyers broadens.
With seven consecutive years of five-star status in Orange Coast Magazine, The Kurt Real Estate Group is among the elite. No matter where they’ve gone, they’ve set record sales. Whether you’re a buyer, seller, or investor, Kurt and his team work diligently, honestly, and with the utmost professionalism and are passionate about helping you achieve your real estate goals.
Kurt is ranked among the top two percent of Coldwell Banker agents nationwide. Kurt’s experience investing in and flipping homes and his connections with the Hollywood Film Industry give him an unparalleled edge and keen insight into market trends. The opportunity presented to you in working with Kurt is why The Kurt Real Estate Group is recognized as one of the top real estate teams in Orange County.
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