1 Updates
Indians among top five buyers of property in US
Photo Credit: Stuart C. Wilson, Getty Images

Indians among top five buyers of property in US

Jul 9 2013, 2:05am CDT | by

Washington, July 9 (IANS) Buying property worth nearly $3.5 billion in the year ended March 2013, Indians are among top five international real estate buyers in the US, according to the National Association of Realtors.

Washington, July 9 — Buying property worth nearly $3.5 billion in the year ended March 2013, Indians are among top five international real estate buyers in the US, according to the National...

Filed under: news

Full Story below YouTube Videos

 
 

 

40 weeks ago

Indians among top five buyers of property in US

Jul 9 2013, 2:05am CDT | by

Washington, July 9 (IANS) Buying property worth nearly $3.5 billion in the year ended March 2013, Indians are among top five international real estate buyers in the US, according to the National Association of Realtors.

Washington, July 9 — Buying property worth nearly $3.5 billion in the year ended March 2013, Indians are among top five international real estate buyers in the US, according to the National Association of Realtors.

India along with Canada, China, Mexico and the United Kingdom accounted for approximately 53 percent of international transactions worth $68.2 billion, according to a survey by the association

The five nations have historically accounted for the bulk of purchases reported from 68 countries, but Canada (23 percent) and China (12 percent) have been the fastest growing sources over the years, it said.

Mexico (8 percent), India (5 percent) and the United Kingdom (5 percent) followed, according to the survey.

International home sales in the US declined in the past year, but are at their second highest level in recent years and are over six percent of total existing-home sales in value, the survey noted.

'The 2013 Profile of International Home Buying Activity' shows interest in US properties continues to grow, signalling that America continues to be regarded by international buyers as a great place to own property, it said.

The survey, which asked realtors to report their international business activity within the US for the 12 months ending March 2013, showed that total international sales were $68.2 billion, down approximately $14 billion from the previous year.

Of total international transactions, $34.8 billion (51 percent) were attributed to foreign buyers with permanent residences outside the US and $33.4 billion (49 percent) were attributed to buyers who are recent immigrants or temporary visa holders residing for more than six months in the US.

"Foreign buyers are experiencing hurdles not only abroad, but also here in the US when it comes to purchasing property," said NAR President Gary Thomas, broker-owner of Evergreen Realty in Villa Park, California.

(Arun Kumar can be contacted at arun.kumar@ians.in)

IANS

Source: IANS

 

Don't miss ...

 

<a href="/latest_stories/all/all/8" rel="author">Luigi Lugmayr</a>
Luigi is the founding Chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.

 

blog comments powered by Disqus

Latest stories

AFG Group Wins 2013 CMAA Project Achievement Award
AFG Group Wins 2013 CMAA Project Achievement Award
AFG Group is honored to receive the 2013 CMAA Project Achievement Award from the Association’s National Capital Chapter. The award recognizes AFG’s outstanding Construction Management practices on the 5-year Steam Line & Condensate Replacement Project, serving GSA’s Heating Operations & Transmission Division. This complex $13.6M project accomplished replacing 11,000 LF of underground steam lines that serviced 21 Federal buildings within the District.
 
 
Ukraine Crisis and Asylum Seekers
Ukraine Crisis and Asylum Seekers
Law Office of Alena Shautsova, a New York Immigration law firm located in Brooklyn , provides the full spectrum of immigration services including consultations regarding immigration benefits for citizens of troubled territories.
 
 
Major Efforts to Mitigate Climate Change Well Under Way in Europe
Major Efforts to Mitigate Climate Change Well Under Way in Europe
Responding to the UN report on climate change mitigation, European innovators working across a range of climate innovation disciplines are stressing that major efforts are well under way in Europe.
 
 
EU Climate Innovation Chief Executive: Private, Public and Academic Sectors Need to Come Together
EU Climate Innovation Chief Executive: Private, Public and Academic Sectors Need to Come Together
Mary Ritter, CEO of the EU's main climate innovation initiative Climate-KIC, calls for greater collaboration between the private, public and academic sectors to develop new solutions to stop further climate change.
 
 
 

Latest from the Network

The New Role Of Leaders
When Alfred Sloan created the modern corporation at General Motors, he based it on the military.  The company was split into divisions, each with its own leadership.  Information flowed up, orders went down and your...
Read more on Auto Balla
 
Marisa Tomei is too old to play Lady Gaga?
Marisa Tomei thinks she's too old to play Lady Gaga in a movie. The 'The Wrestler' actress was flattered to hear the 'Applause' hitmaker would like her to play the 28-year-old singer if there is ever a film made about...
Read more on Celebrity Balla
 
Hawkeye Technology Improves Time Clock Reporting and Payroll Integration in TimeClick LE 12
Logan, UT, April 18, 2014 --(PR.com)-- Hawkeye Technology, creator of TimeClick, a leading employee time clock software, announces the release of TimeClick version LE 12. This new version offers powerful new reporting...
Read more on Business Balla
 
Airbnb Cofounders Are Billionaires As Share Economy Leader Closes $450 Million Round At $10 Billion Valuation
It took a month, but Airbnb’s founders are confirmed as the share economy’s first billionaires, at least on paper. That’s because the home-sharing site has closed its new fundraising round, raising $450 million at a $10...
Read more on Business Balla
 
`Taxpayers Rely On IRS Guidance At Their Own Peril,' Tax Judge Rules
Before filing your 2013 tax return, did you  consult an Internal Revenue Service publication for clarification of some confusing point? That’s living dangerously. Or so a U.S.  Tax Court Judge declared this week. “...
Read more on Business Balla
 
Predicting The Most Expensive Games Of The 2014 NFL Schedule
Even at the times of little news during the offseason, the NFL keeps fans in anticipation of what might come next. With less than a month until the NFL Draft, the release of the 2014 NFL schedule is expected sooner. For...
Read more on Business Balla
 
How The Wealthiest Families Make And Lose Their Money -- Part 5
In this series of articles on wealth creation and maintenance, we have hit on a few key findings of researchers and practitioners.  The vast majority of family wealth stems from business ownership and not inheritance. ...
Read more on Business Balla
 
Can High-Speed Internet Spark Better-Paying Jobs?
Many of us look at high-speed internet as a way to enjoy pleasures like clearer HDTV and speedier Wi-Fi. But as lightening-fast service gets rolled out in new markets, it could also pave the way to innovation–and new...
Read more on Business Balla
 
For NHL and NBA Playoffs, Parking, Like Tickets, Also Have A Premium
When the Nets and Raptors tip off tomorrow afternoon, the NBA playoffs will be underway.  Along with the NHL playoffs, many think the next two months are the most exciting in all of sports. Over the course of the next...
Read more on Business Balla
 
The Week Ahead: A Spring Breakout for the Economy?
Just a week ago the stock market was looking quite vulnerable as most of the major averages closed near their lows last Friday, April 11. There were signs of heavy selling, so I concluded last week that “On a short-term...
Read more on Business Balla
 
 
Auto Balla Sexy Balla Sport Balla TV Balla Politics Balla Movie Balla Apple Balla Business Balla Ad Balla Celebrity Balla