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- Over 60% of U.S. Investors Looking Abroad
- Investors Looking at Asia May Want to Look at Maylasia
- Life in the Global Village
- Marketing to Hispanic Homebuyers
- New Reports Provide State-by-State Overview of International Business Activity
- Immigrant Gateways--Emerging and Re-emerging
- One-stop Shopping for International Second Homes
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Results from the 3rd annual Bryan Cave Real Estate Executives' Forecast Survey, released June 7, reveal that 61% of U.S. real estate executives surveyed plan to invest outside the U.S. within the next 12 months. Respondents expressed the greatest interest in investing in Mexico (15%) and China (15%). Other top-named countries identified included the United Kingdom (12%), Canada (8%), and Japan (8%). The high level of interest is noteworthy given that the survey also showed that roughly the same percentage of respondents (63%) believe the U.S. real estate market will strengthen (16%) or stay the same (47%) within the next 12 months, compared with 35% who believe the market will weaken. The survey was conducted among 343 real estate professionals at a variety of public and private real estate companies, real estate services companies, commercial banks, opportunity and investment funds, investment banks, and law firms. Read the PR Newswire release for more information about the survey, including in which U.S. regions investors are most interested.
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Foreign investors in Malaysia typically buy in Kuala Lumpur's central business district or a resort coastal property, and unlike a few years ago, the Malaysian government makes it fairly easy to do so. In a turnaround from the 1990s mindset that foreigners were pushing prices too high and the resulting restrictions for foreign buyers, Malaysia now specifically targets foreign buyers with its "Malaysia: My Second Home." Among the benefits for foreign buyers is the market's general transparency, the ability to reduce a 30% capital gains tax to 5% for companies and 0% for individuals (by holding the property at least six years), and the ease of obtaining a mortgage up front for 90% of the purchase price. So it's easy...but is it a good investment? All emerging markets present risks, but the economy is growing, thanks in part to the global boom in oil. Global financial services company ING projects Malaysia as the Asian country with the biggest increase in its work force from 2003 through 2013, with the number of workers expected to rise to 13 million, a 27.9% increase in the 10-year period. With an influx of multinational companies, new developments are in demand, along with an increase in quality of construction standards. The improved construction standards have also carried over to the resort coastal properties. A May 11 article in the International Herald Tribune reports that ING rates the Malaysian property market as a medium risk, the only developing nation in Asia not rated a high risk.
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Globalization continues to impact our daily lives and business. Cities reflect more ethnic diversity than ever before. Jobs are being outsourced beyond borders. Technology enables us to instantly communicate regardless of where we work or live. Speed, innovation, uncertainty and change are the only constants. On July 13-16 in Park City, Utah, The Counselors of Real Estate will host their annual High Level Conference, “A Clash of Cultures: Understanding Life in the Global Village.” The Conference provides a real estate specific, in-depth exploration of these issues and their impact on society at large…and the way real estate practitioners do business. Get more information online, download the Conference brochure or register online. Non-members welcome.
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The Hispanic population in the United States is the country's largest minority group whose growth will continue over the next decade. NAR's Information Central has recently created a Field Guide for marketing to this population. All accessible via Realtor.org, REALTORS® can find marketing tips, materials in Spanish and statistical data to help you succeed in targeting this important segment of the real estate market.
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The exchange of goods and services from country to country has expanded tremendously in recent years, with growth in international transactions far exceeding growth in domestic transactions. U.S. exports of goods and services increased 10.5% in 2005, while imports from foreign countries rose 12.8%. This is a whopping three to four times higher than growth in the overall U.S. economy. Fast-growing international trade means more foreign companies and foreign workers are relocating to the United States. At the same time, an increasing number of U.S. businesses are opening offices abroad. Conditions are ripe for engaging in international property brokerages. To help REALTORS® better understand the global aspects of their own regional markets, NAR has produced reports that examine international business activity by state, including the number of foreigners arriving from various countries, homeownership rates and top exports. Each 13-page report is available to available to download at no cost at Realtor.org.
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Cities such as New York, San Francisco, Houston and Chicago have long been know as major gateways for immigrants, but any U.S. city with an international airport can be an in-bound immigrant destination. U.S. Census Bureau data reveals a group of emerging and re-emerging gateway cities. Those emerging cities (defined as having very low foreign-born immigrants until 1970 follow by high proportions post-1980) include: Atlanta; Dallas; Ft. Worth; Las Vegas; Orlando; Washington, D.C. and West Palm Beach, Fla. Re-emerging cities (having a foreign born population that exceeds the national average from 1990-1930, lags after 1930, and then increases rapidly after 1980) includes Denver; Minneapolis-St Paul; Oakland, Calif.; Phoenix; Portland, Ore.; Sacramento, Calif.; San Jose, Calif.; Seattle and Tampa, Fla. An in-depth analysis of immigration to U.S. metropolitan areas during the 20th century was prepared by the Brookings Institution's Center on Urban and Metropolitan Policy in 2004. Download the 35 page report at no cost.
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In 2005, Conde Nast Traveller polled its readers about the ideal vacation home, noting that more Americans than ever own vacation homes, with 2.82 million such properties purchased in 2004. When asked about location, 86% of respondents named the U.S. as the location where they own or would like to own a vacation home (with the top four states being Florida, California, Hawaii and Colorado). The top non-U.S. destinations were Caribbean (21%), Mexico (21%), Europe (17%), Canada (6%), Australia/Pacific (6%), British Isles (5%) and Asia (3%). REALTORS® working with clients looking for a vacation home outside the U.S. can take advantage of the Conde Nast Traveller website to research the highlights of location. The SIMA International Second Home pavilion in the International Networking Center during the 2006 NAR Annual Convention in New Orleans is a great one-stop shopping for second home buyers around the world. Also represented in the International Networking Centers will be WorldProperties.com, an online resource for second home buyers.
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Report compiled by NAR International Operations, narglobe@realtors.org.
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