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International home buyers are diverse group with a variety of interests. Resident foreigners, including recent immigrants, typically look for a home for their residence - frequently in a suburb. In contrast, non-resident foreigners more frequently look for vacation homes - typically in a resort. The 2013 International Profile of Home Buying Activity presents information on the intended use by international buyers for the property they purchase.
- Resident-foreigners generally intend to use the property as a home—71 percent focus on a residential use, compared with 25 percent intending to use the property for vacation use. Resident foreigners frequently locate in suburban areas.
- In contrast, non-resident foreigners expect by an 80 percent margin to use the property for vacation purposes, with 16 percent of purchasers focusing on primary use as a home. Typically non-resident foreigners may be looking in a resort area.
What Does This Mean for REALTORS®?
The Profile outlines the international buyer as a niche market—although very significant in a number of states. International buyers have special needs and interests when seeking a property. The report and the NAR website www.realtor.org/global contain information and data that may help the REALTOR® in understanding and working with the foreign buyer.
Notice: The information on this page may not be current. The archive is a collection of content previously published on one or more NAR web properties. Archive pages are not updated and may no longer be accurate. Users must independently verify the accuracy and currency of the information found here. The National Association of REALTORS® disclaims all liability for any loss or injury resulting from the use of the information or data found on this page.