Which foreign buyers are snapping up record amounts of U.S. real estate? via Financial Post

They are a group of foreign buyers who took out record levels of currency from their country in the past year to buy residential property in the U.S., though only a minority plans to take up permanent residence. The buyers? Well, they might not be who you think.

Canadians bought a record US$19 billion worth of property in the United States last year, surpassed only by the Chinese who purchased US$31.7 billion, according to a report out Wednesday from the Washington, D.C.-based National Association of Realtors (NAR).

But few south of the border seem to care about the influx of foreign buyers from the north.

READ FULL ARTICLE

Loading Facebook Comments ...
No Comments

Post A Comment

Sign up for automatic property updates.

Join thousands of Torontonians who receive our automatic updates. Stop manually spending your time searching, we will send the properties that meet your criteria directly to your inbox.