Foreign Real Estate Investors Plot Their Return
As signs that the second wave of COVID-19 is beginning to wane and travel restrictions loosen, foreign investors are looking to return to the U.S., potentially driving up home prices in an already record-breaking market.
According to a MarketWatch article by Jacob Passy, foreign investment is at a 10-year low.
“These travel bans haven’t just hurt the hospitality sector—it’s also led to a significant downturn in international investment in U.S. real estate,” Passy said. “International buyers only purchased 107,000 residential properties in the U.S. between April 2020 and March 2021, a 31% decrease from the previous year, according to data released in July by the National Association of Realtors. It represented the lowest level of foreign investment in a decade.”
It is not just travel bans that are restricting foreign investments, but backups at consulates and…