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Top US Real Estate Markets for Foreign Buyers

Top US Real Estate Markets for Foreign BuyersWealthy foreigners from around the globe are taking advantage of America’s housing bust to snap up U.S. properties at cut-rate prices — helping local markets rebound in the process.

“We’ve seen foreign investors buy $10 million to $20 million worth of property in a single trip,” says Peter Loewy of Los Angeles-based Teles Properties. “They think this is a good place to park money, and it’s less expensive than their real estate back home.”

A recent National Association of Realtors (NAR) study estimated that foreigners and immigrants who’ve lived here less than two years spent $82.5 billion on U.S. investment property in the 12 months ended March 31, 2012.  That’s about 9% of the total paid for all U.S. housing purchases during the period.

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