By: Keith Katzman
Posted on:
Category: Real Estate News, Uncategorized
Tags: CAR, international buyers, International homebuyer activity, real estate professionals
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1 In 6 California homebuyers hails from overseas
According to CAR’s 2014 International Home Buyers Survey, 14 percent of real estate professionals polled reported closing a deal with an overseas client last year, unchanged from 2013. Buyers from China accounted for 36 percent of international transactions in the state, nearly identical to the preceding year and more than triple the amount of buyers from Canada, who accounted for 11 percent of closed sales.
A trend: International buyers pay cash, hang on to their property
Two-thirds of international buyers paid all cash, and CAR notes that those from China particularly favored this strategy. Buyers from overseas say they plan to keep their properties for a median seven years, two years longer than in 2013.
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