Source: PR Newswire —
MADISON, N.J., March 7, 2023 /PRNewswire/ — From diverse American cities and regions to being inspired by Hollywood, wealthy international consumers are dreaming of home in the United States. According to a recent survey by Coldwell Banker Real Estate LLC, an AnywhereSM (NYSE: HOUS) brand, and the Coldwell Banker Global Luxury® program, affluent international buyers are dreaming big, spurned by location/lifestyle preferences, an overall positive outlook on the U.S. luxury real estate market and more.
In fact, a significant number of respondents say they are optimistic about the state of the U.S. real estate market; 80% of luxury consumers believe purchasing real estate in the United States is a safe investment and 76% rate the current market conditions to purchase a home as “excellent and/or good.”
The survey conducted in partnership with Censuswide highlights the consumer sentiments of over 1,200 high-net-worth consumers from 12 countries. The findings serve to unpack the dreams, desires and attitudes of international luxury home buyers, offering insight into what’s driving their interest in U.S. real estate, where they’re dreaming of moving to and the factors impacting those relocation purchases.
International investors are willing to bet on U.S. real estate:
Traditionally seen as a hedge against inflation, real estate may provide financial, emotional and psychological stability, especially in the face of uncertain market conditions. International wealthy consumers seek to diversify their real estate portfolios, build generational wealth and make opportunistic buys in luxury markets. In fact, 84% say they already own residential real estate outside of their home country.
The survey also reveals, virtually all (97%) respondents from Mexico consider purchasing real estate in the United States as a safe investment, ranking them the most likely country surveyed to do so. Participants from Spain and the United Arab Emirates did not fall far behind with 92% saying that U.S. real estate is a safe investment.
Desires, dreams and motivations for purchasing in the U.S.:
Consumer motives and preferences are not universal when it comes to international buyers looking for their dream home in the U.S. The survey indicates that some of the leading motivations to purchase property in America are as follows:
1. Frequent work/business trips to United States cities
2. Three-way tie:
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- A movie or television series based in the United States
- A recent vacation to a United States city
- Investment opportunity
3. Social media
4. Dual citizenship / golden passport
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