San Diego Still Attracting International Buyers
According to U-T San Diego, international purchases of luxury properties in San Diego remains substantial. Forbes magazine stated that international buying has slowed . . . not in San Diego. Foreign buyers market is stronger than ever, and in March 2014, was actually up by 6 percent.
The internet has a lot to do with keeping international sales chugging along. According to NAR, nearly 45 percent of web-based searches for real estate are performed by individuals outside the US. The largest purchasers of US real estate is China and Canada. Climbing foreign real estate prices, and open international markets, make luxury properties in America extremely attractive.
One main attraction is luxury. Foreign buyers aren’t interested in run-of-the-mill, average, every day properties. They are coming a long way; they want to live in the lap of luxury, in every sense of the word– no amenity spared. NAR reported in 2013, the average price of a property purchased by individuals form foreign countries was (on the low end) more than 3 million dollars. International buyers spent more than 68 billion in 2013.
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