International Buyers Are Flooding the US Real Estate Market—Here’s Where They’re Settling
Affluent buyers from around the world are slowly trickling back into the U.S. real estate market, and while many Americans remain apprehensive about buying in the midst of a housing downturn, more than three-quarters of international buyers surveyed by the Coldwell Banker Global Luxury program rated current U.S. market conditions as “excellent or good,” Fast Company reports.
Though some incoming buyers are searching for second homes while others are looking to settle on American soil, the majority of international house hunters have one priority in common: location.
From sea to shining sea, international buyers have their sights set on the country’s most renowned cities and traditional centers of wealth. According to The Report, the top five U.S. metropolitan areas with the highest concentration of second homeowners with a net worth of $5 million and up are New York City, Los Angeles, Miami, San Francisco, andWashington, D.C.
Our survey also asked luxury buyers where they would dream of purchasing their next property. Argentinians voted highest for Chicago, seeking out the city’s cultural diversity and prominent architecture. Inspired by its hustle and bustle, buyers from Spain and Mexico voted New York City as their top choice. Meanwhile, Costa Rican buyers dream of a waterfront abode with breathtaking views in Miami.