Foreign buyers — where and why?

It's really big.The folks at Credit Sesame (“The new and easy way for you to manage your personal  credit online”) were curious where foreign buyers were, well, buying. So they did the research and found some interesting answers.

Virginia is one of the 15 U.S. states with the most foreign buyers; about 2% of property sold here is bought by someone outside country. The majority of purchases are for less than $250,000 — about 61% are single-family detached homes.

More fun facts:

  • 37% are using the property as their primary residence
  • 62% pay cash
  • 43% choose the home simply because “It’s in a desirable location”

Click here to see the entire ginormous chart.

About Andrew Kantor

Andrew is VAR's editor and information manager, and -- lessee now -- a former reporter for the Roanoke Times, former technology columnist for USA Today, and a former magazine editor for a bunch of places. He hails from New York with stops in Connecticut, New Jersey, Cincinnati, Columbus, and Roanoke.
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