7 essential things to know about foreign homebuyers in 2016

The latest survey conducted by NAR provides some key insights about US real estate market and the role of international players. 1. The volume of international buyers decreased. About $102.6 billion was poured into US residential properties from abroad, 1.3% less than previous year, while the number of sales to foreign buyers increased by 2.8%; 2. Chinese investors are the biggest foreign buyer for the fourth year with leading number of purchases and median price; 3. The appreciating USD makes US properties more expensive resulting in less appetite for US property; 4. Most international buyers pay $250,001 to $500,000, with 10% paying over $1 million; 5. Fifty percent of foreign buyers pay by cash, a slight decrease from 55% last year; 6. Detached single-family house is most attractive to foreign buyers. Read more here.