Foreigners buy $82 billion in U.S. residential property

The National Association of Realtors’ 2011 Profile of International Home Buying Activity reports that foreigners view U.S. properties as a secure investment, one that provides rental and long-term appreciation possibilities.

According to the study, foreigners have found homes in this country are less expensive than comparable foreign properties.

The total U.S. Existing Home Sales market was approximately $1.07 trillion in the 12 months ending in March 2011, based on a recent NAR survey. Foreign clients purchased an approximate $41 billion share of homes, the same as the previous year.

In addition, recent immigrants (who have moved to the U.S. within the past two years) and individuals with visas for more than six months purchased an additional $41 billion, for total internationally oriented sales of $82 billion, up from $66 billion reported in 2010.