14 Mar '16, 10am

Foreigners Shying Away From US Property

Housing prices in US cities, such as New York, have skyrocketed. The US National Association of Realtors (NAR) has stated that demand from foreign buyers is weakening, with the strong US dollar and rising home prices forcing some investors to look at other countries that offer more value, reported The Wall Street Journal recently. Many experts had predicted that foreigners would flood the US property market last year, as they seek a safe haven from the volatile global economy. Realtors revealed that the Chinese had surpassed Canadians as the top foreign buyers of US property in June 2015. However, it looks as though this trend is reversing and more foreign buyers are now avoiding the US market, as prices in preferred cities like New York and San Francisco have increased dramatically. This has been made worse by the strong US dollar. According to research from the NAR, the ...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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