28 May Real estate in San Diego attracts foreign buyers
The international real estate investment market may have cooled, but the purchase of luxury real estate in San Diego by foreign investors is still red hot.
Why? Real estate in San Diego is unlike anywhere else in the world, plus the quality of life here and the relative ease of buying real estate in the United States attracts buyers worldwide.
The international allure of luxury real estate in San Diego
International buyers can easily snap up a second or third home in the U.S. with qualities they may not be able to find in their native lands – luxury homes off the bluff, coast or beach, often for much less.
Data from the National Association of REALTORS seems to bear this out. A 2013 survey found U.S. real estate sales to international buyers increased 6 percent in 2012-2013, for a total of more than $68 billion, or 6.3 percent of total existing homes sales.
The most active buyers typically come from Canada and China. They’re largely attracted to real estate in the U.S. and homes for sale in San Diego thanks to rising international real estate prices, limited availability in foreign markets and this country’s more flexible buying options, including viewing luxury properties online. It makes the purchase of luxury real estate in San Diego a win-win for foreign real estate buyers who either use San Diego real estate as vacation or investment properties