More and more international home buyers are settling down in the Lone Star State. In fact, foreign purchasers of homes in the United States added more than $10 billion to the Texas economy from April 2015 to March 2016, according to an article in Realty News Report.
Foreigners' reasons for buying a home are much the same as Americans, says the article. They look for good school districts, strong job growth, and low prices.
About 10 percent — 21,488 home sales and $10.2 billion in purchase dollar volume — occurred in Texas – a 2% increase from the same time period a year earlier, says the report. CNBC reports that Florida nabbed the most international purchasers for that time period – 22% of foreign residents who bought in the United States. Next was California with 12%, Texas, 10% and New York and Arizona tied at 4% each.
“Over the last several years, Texas has become increasingly popular among international home buyers from all parts of the globe for relocations, investment properties and vacation homes,” said Leslie Rouda Smith, chairman of the Austin-based Texas Association of Realtors. “In addition to our state’s strong economy and job growth, Texas’ friendly and welcoming culture is part of what makes our state a great place to live, work and do business.”