New York, NY (PRWEB) June 23, 2011
According to RealtyPartner.com Research and Development, buyers from European countries like Spain , France and Italy and buyers all over the world are now taking advantage of the cheap US real estate market by investing heavily, as they believe that the values will go up in another 5 years, according to RealtyPartner.
The US real estate market is doomed; real estate price throughout the country is still on a free fall and there are no signs of the US real estate market recovering in the near future.
"The cheap real estate market surprisingly has now attracted number of foreign buyers, who are considering investing heavy in the US real estate market." stated Mark Quinones, RealtyPartner's Chairman and Founder past weekend at his investment seminar in New York City.
The reasons for foreigners to buy US real estate are simple; the prices are dead cheap and they can pick the best real estate they want without any conditions what so ever. Recent statistics released by RealtyPartner states that about $16 billion worth US real estate properties are bought by the foreign buyers, with 62% of the homes for sale properties being bought in cash.
Foreigners think that it is easy for them to market and sell the real estate properties bought as US has global reach. Many foreigners who live in the US are dying to buy a house for themselves as they consider it as an important accomplishment in their lives. Although the real estate market is sluggish, one can always sell their real estate (without expecting high price of course), if they are badly in need of cash.
People from Canada and China are the ones who have bought the highest number of US real estate, a statistic says. This buying spree may well lead to another real estate boom or at least will create new opportunities for local realtors who find it very hard to sell real estate properties In and around their area.
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