Malibu Is Set To Be Next Hot Target For Foreign Real Estate Buyers

by ritasimpson on June 12, 2012

in How's The Market

It’s not news that foreigners are snapping up US Real Estate. What is news, is the Rate at which foreigners are buying US properties. International buyers accounted for  over $82.5 billion in US property acquisitions in the last 12 months. That is a 24% increase from the previous year!

Buyers for California and Malibu properties came from Canada, Russia, Mexico, China and India.

In Malibu, while most of the activity remains local, we have seen a growth of foreign buying activity. Buyers for trophy properties like what you find in Malibu came mainly from Russia, Venezuela and Mexico.

International buyers are flocking to the USA due to uncertainties facing their countries and the view that America is ON Sale!

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