Overseas Property Buyers Are Mexican

  • 14 years ago
  • Uncategorized

Mexicans have emerged as key investors in US real estate putting the Brits in third place as the nations that are buying real estate in the US. Overseas buyers are an important part of the real estate market especially in regions such as Florida. The new trend is set to change marketing emphasis to Mexico by log suffering US realtors.   

Florida is still offering a huge amount of below market value property and for Brits wishing to retire to the sun shine state there has probably been no better time to buy.

The British overseas investor has fallen behind Mexicans in the ranks of foreign property buyers in the US.

The National Association of Realtors’ annual study says the British accounted for 9% of overseas property purchases in the US during the year to March – a fall from 10.5% the previous year.

That means Britain dropped from second to third place in terms of foreign homebuyers in the US, behind Mexico which accounted for 10% of purchasers. And if present trends continue, British buyers will soon be overtaken by the Chinese, who is only a whisker behind. Canada is easily top of the table, accounting for 23% of international home purchases.

The UK economy and prospect of huge cuts by the British government appear to have taken its toll on the confidence levels of British buyers says Nicholas Marr of oversea property website Homesgofast.com

“It’s no surprise that events at home are having an effect on the British buying abroad. However many investors are changing tact stepping away from off plan property and seeking low cost investment property that offers better returns than a British High street Bank . The US offers homes from 20,000 with instant returns from existing tenants these types of deals remain popular.

Homesgofast.com  for buying or selling international property

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