References
NAR Library & Archives has already done the research for you. References (formerly Field Guides) offer links to articles, eBooks, websites, statistics, and more to provide a comprehensive overview of perspectives. EBSCO articles (E) are available only to NAR members and require the member's nar.realtor login.
Top U.S. Real Estate Markets for 2024
The Top 10 Real Estate Markets of 2024: You’ll Never Guess Which Ones Made the Cut (realtor.com®, Dec. 4, 2023)
- Toledo, OH
- Oxnard, CA
- Rochester, NY
- San Diego, CA
- Riverside, CA
- Bakersfield, CA
- Springfield, MA
- Worcester, MA
- Grand Rapids, MI
- Los Angeles
Foreign Investment Trends in the U.S.
Profile of International Transactions in U.S. Residential Real Estate (National Association of REALTORS®, 2023)
By region of origin, Asian buyers returned as the largest group of buyers, with a higher market share of 38%. Latin American buyers were the second largest group, with a 31% share. (Mexico is included in Latin America/Caribbean, although it is geographically part of North America). European buyers accounted for14% of foreign buyers, while Canadian buyers alone accounted for 10%.
The Latest Numbers on Foreign Investment in U.S. Ag Land (Northern Ag Network, Nov. 6, 2023)
Only 18 counties, or 0.01% of all counties, have over 200,000 acres of agricultural land held by foreign investors, the top four of which are in northern Maine with Canada-based investors. A little over 20% of Maine’s privately held agricultural land is held by foreign investors, which makes up 9% of total foreign-held ag land. Hawaii has the second-largest percentage of foreign-held U.S. agricultural land, which is 9.2% of the privately held agricultural land in the state.
Foreign Buyers are Bailing on the U.S. Housing Market. Here’s Why (CNBC, Aug. 3, 2023)
The drop in overall foreign purchases is unlikely to ease the competition for domestic buyers, as international buyers only made up a little more than 2% of all buyers. But it could help on the margins in certain local markets favored most by foreign buyers.
Expanding Federal and State Restrictions on Foreign Investment in U.S. Real Estate (Womble Bond Dickinson, May 15, 2023)
Ohio, Pennsylvania, South Carolina, South Dakota, and Wisconsin limit foreign investment in real estate based on the number of acres, while Iowa, Minnesota, Missouri, Nebraska, North Dakota, and Oklahoma ban foreign ownership of certain land completely.
Investing in Foreign Markets
5 Affordable Places to Buy Property Abroad in 2024 (Forbes, Nov. 30, 2023)
Where in Brazil should you be looking to buy property? Instead of crowded cities like Sao Paulo and Rio, follow the locals to domestic vacation destinations like Fortaleza and the surrounding areas, where you can buy a home by the beach for $70,000 to $140,000.
More Americans are Moving to Spain — and Paying High Prices for Real Estate (CNBC, Jul. 17, 2023)
While the southern coastal region of Andalusia has always been a popular location for Americans, there’s a “strong word of mouth” for the city of Valencia, an urban area on the beach farther north on the Mediterranean coast with a large expat community, among them many Americans, said Ingrim.
Americans Head to Europe for the Good Life on the Cheap (The New York Times, Mar. 20, 2023)
Georg Petras, the chief executive of Engel & Völkers in Greece, said Americans flooded the Greek market in 2022, accounting for a quarter of his firm’s foreign transactions. If the trend continues, Americans will become the third largest group of foreign buyers that his company handles.
eBooks & Other Resources
The following eBooks and audiobooks are available to NAR members:
Global Real Estate Investment Trusts (eBook)
Passport to Exotic Real Estate (eBook)
How to Invest In Offshore Real Estate and Pay Little or No Taxes (eBook)
International Real Estate Handbook (eBook)
No Going Back - Buying Abroad (eBook)
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