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Yahoo
a day ago
- Business
- Yahoo
5 Top US Housing Markets for International Homebuyers — Should You Buy There, Too?
The U.S. housing market has always held an appeal for international homebuyers. International buyers spend millions of dollars purchasing residential properties in states across the country, but some cities have a bigger draw than others. Trending Now: Read Next: Recent data from shows that foreign buyers are more likely to buy homes in coastal regions and warm climates. Here are the top five U.S. housing markets for international homebuyers. With near year-round warm weather and a thriving nightlife, it is no wonder that Miami, Florida, topped the list for international homebuyers. According to Miami took 8.7% of the international traffic share. The median home listing price in the area was $635,000, while the median sold home price in May 2025 was $580,000. Both domestic and foreign buyers should be wary of the cost of living in Miami, which is 19% higher than the national average and 15% higher than the state average, as indicated by Best Places. Without substantial income, buying property in Miami could end up being more costly than it is worth. For You: The second highest share of international traffic went to New York, New York. Foreign homebuyers flocked to the Big Apple in the first quarter of 2025. The city took 4.9% of the international traffic share. The median home listing price in May 2025, according to was $868,000. The real estate listing website notes that the city is currently considered a 'buyer's market' because the supply of homes in the area exceeds demand. While buyers will benefit from homes that sell for less than asking, the cost of living in the area is well above the average in the U.S. International home buyers were also drawn to the sunny coast of Southern California. The bright lights of Los Angeles attracted 4.6% of the international traffic share. The median listing home price in Los Angeles was $1.2 million in May 2025, significantly higher than the average mid-tier home in the state. The City of Angels' median home listing price was nearly $1.25 million in May 2025, per Realtor. Potential international and domestic Los Angeles home buyers should also be aware of the high cost of living, which is 61% higher than the average in the U.S., as reported by Best Places. Another top-ranking area for international buyers is Orlando, Florida. Disney World's hometown captured 2.9% of the international traffic share, attracting foreign buyers from a multitude of countries. Attracted by the warm climate, low cost of living and absence of state income tax, international buyers have consistently sought properties in the Sunshine State. The median listing home price in the area was $394,700, which was on par with the median sold home price. Considered a neutral housing market by both buyers and sellers can take advantage of low home prices that sell in around 60 days. Rounding out the top five housing markets for international buyers is Dallas, Texas. Located in the heart of the Lone Star State, 'Big D' is known for its great BBQ, southern charm and vibrant music scene. Dallas took 2.8% of the international traffic share, likely due to its affordable housing prices and low cost of living. The median listing home price was $449,500, and the cost of living is only 0.2% higher than the national average, according to Best Places. More From GOBankingRates 10 Genius Things Warren Buffett Says To Do With Your Money This article originally appeared on 5 Top US Housing Markets for International Homebuyers — Should You Buy There, Too?
Japan Times
28-05-2025
- Business
- Japan Times
It's too easy for foreigners to buy Japanese property
A cottage industry has spun up in Japan in the last few years offering abandoned houses, known as akiya, to foreigners. Many countries have stock of underused housing, though Japan is certainly one of the worst offenders. Since the post-pandemic reopening, there's been a surge of interest in akiya among those priced out of their markets at home. Buyer beware: Living in poorly insulated, socially isolated dwellings in the countryside can often be less "My Neighbor Totoro" and more torturous. But the boom has highlighted how easy it is for those outside to buy property here. Indeed, the lack of restrictions or even disincentives borders on the absurd. And it's becoming a political issue. While abandoned houses in rural areas aren't much of a concern, in Tokyo and other major metropolitan centers where property prices are surging, some are pointing an accusatory finger at international buyers suspected of triggering the rise. In the capital, the average cost of a new apartment has topped ¥100 million ($700,000) for two years running. In the most central areas, the price of a second-hand, 70 square meter (750 square foot) apartment has doubled since before COVID-19, according to real estate consultancy Tokyo Kantei, a pace of increase practically unheard of in a market once synonymous with flatlining prices. In 2022, I wrote about the affordability of Tokyo property. Just three years later, many are feeling priced out. There's a raft of potential culprits. New apartments are in short supply, with many prime plots already redeveloped in advance of the Tokyo Olympics. Inflation is contributing to increasing construction costs and there's a worker shortage thanks in part to a crackdown on overtime hours. The rise of the "power couple,' dual-income households of well-paid professionals, is also a factor as more women join the workplace and, in turn, the property market. But increasingly, the spotlight is falling on foreign buyers, particularly wealthy Chinese, seeking a safe place for their capital and drawn by Japan's political stability and social safety net. Lawmakers and commentators have been raising the lack of restrictions on property in parliament in recent weeks, as well as in the media. Former international soccer-star-turned-investor Keisuke Honda summed up what many think when he recently tweeted that he thought foreigners should not be allowed to buy land here. One thing that clouds the conversation is the lack of reliable data on transactions. Japan does not keep records of the nationality of buyers. One recent survey of developers by Mitsubishi UFJ Trust & Banking suggests that 20% to 40% of new apartments in central Tokyo were being purchased by foreigners. Authorities are now, belatedly, beginning their first-ever survey to establish the facts, NHK recently reported. Amazingly, it was only this decade that Japan first began making it harder for foreigners to buy properties even in sensitive areas next to military bases or nuclear plants. Beyond that, it's open season: Buyers don't even have to be resident in the country, there are no additional taxes or stamp duties for foreign purchasers, nor are there extra levies for second or holiday homes. Japan is an outlier in the region. Singapore doubled its stamp duty on foreign buyers to 60% in 2023 as part of a series of disincentives, while Hong Kong only recently removed a similar curb in an effort to breathe life into the property market. Elsewhere, Australia announced a two-year outright ban on foreigners buying some homes, a step Canada last year extended. To be clear, Japan is nowhere near needing to take such radical steps. Indeed, it's ironic that this conversation is happening at all, given the frequent complaints about stagnant property prices. But with the secret now out about Tokyo's international attractiveness as a place to live, it's a good time for lawmakers to get ahead of the conversation — before it fuels further public discontent. In an increasingly globalized and unequal world, residents — whether Japanese or foreign — should surely be given priority above speculative buyers looking for a rarely used second home. If nothing else, a government that needs to boost its coffers should be maximizing its tax revenues. Given the shortage of supply, it should also discourage owners from holding properties that are rarely occupied, at least in Tokyo's central areas. And it's not unreasonable for Japanese to be upset about the ease with which Chinese investors can buy in Japan, when the reverse transaction isn't even possible. Japan's remarkable stability during its economic lean years was in large part due to the availability of basic services such as housing, something many Western economies have failed at, fueling popular discontent. As Tokyo re-emerges, it should take care not to repeat others' mistakes. Gearoid Reidy is a Bloomberg Opinion columnist covering Japan and the Koreas.
Bloomberg
22-05-2025
- Business
- Bloomberg
Saudi Arabia's Mega Neom Hydrogen Plant Struggles to Find Buyers
The world's largest green hydrogen project being built in Saudi Arabia's Neom is facing an uncertain future as it struggles to find international buyers for the fuel. All of the hydrogen from the project was originally intended for export as green ammonia, but with only one committed buyer lined up, it is shifting focus to local consumers to fill the gap, according to people with knowledge of the matter. But demand is still uncertain within the kingdom, and plans are under consideration to slow the full development of the facility, they said.
