The number of international buyers purchasing real estate in the top 5% of the market saw an estimated growth of 25% from 2022 to 2023, despite the negative headlines. The Coldwell Banker 2024 Trends Report research found a different set of circumstances in analyzing the top 5% of homes by price in the U.S. market. The report notes that international buyers usually pay in cash, and are less affected by the fluctuations of mortgage rates.
The location within the U.S. varies based on the need of the buyer, whether it is purely an investment or if they are searching for a primary residence. China, Canada and the U.K. remain at the top of the international market:
Boston continues to be a top destination for international buyers. The proximity to so many top-ranked prep schools, colleges and universities continues to be an important factor for families all over the world. The report indicates this trend will only continue in 2024 and beyond.
Posted by David Green on
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