There is another reason why foreign real estate investors will continue to purchase properties in the US. A proposal in the Senate was made in the form of a bipartisan bill that will enable foreigners to avail of a special non-work visa after purchasing any real estate property in the US. This visa will be valid for three years. The main qualifications for this visa is an investment of $500,000 or more and the foreign property owner will have to stay in the property for 180 days.
This bill was authored by Sens. Charles E. Schumer and Mike Lee with the purpose of attracting more real estate investors from overseas. As the local economy slowly strengthens, any outside investments will help stabilize and fund the recovering real estate industry.
This piece of information is another evidence that they are more than welcome to purchase homes in the US and they have all the support and encouragement that they need from the government.
If you read the news, you will find out just how vital they have been in supporting the real estate industry. As American nationals are struggling with their debts, a lot of them had to let go of the homes that they have purchased. Since job losses happened left and right, the local economy struggled with unpaid mortgages and foreclosed properties.
Since no help can be expected from the local market, the industry looked for real estate investors from outside the country. This proved to be very beneficial for all parties.
The homeowner visa bill was borne out of the notable high interest of affluent European and Chinese investors on the real estate properties in Manhattan. Given the uncertainty of the European economies, their wealthy constituents decided to put their money elsewhere for protection – and they have chosen this country. Their seemingly personal reasons became the saving grace of the country – making sure the industry does not completely go under. Compared to the tumultuous conditions of the European nations, the US becomes a more attractive investment platform because of its stability and resilience.
As the dollar continues to appreciate more than the euro currency, this all the more prompts foreign real estate investors to purchase US properties. They see the low median sale prices of homes, the affordable mortgage rates and couple that with the homeowners visa, you can expect that wealthy foreigners will be flocking the real estate market.
With the investments pouring in from the outside, the economy of the US gets more money to help their post recession programs. It is a win-win situation for most parties.
For all foreign real estate investors, this opportunity poses a lot of possibilities for them – and that does not only come from the rising rental rates. Despite the recent recession, the US remains to be one of the strongest economies in the global market. It still holds a lot of business opportunities and having a property here could make transactions easier to conduct.
Foreign real estate investors will always need a local real estate agent/agency who can help them purchase a property. The Guldi Group can assist you with that. Give us a call and we would be glad to help you invest in the US.
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