March 7, 2023

Coldwell Banker Uncovers Why International Buyers Dream of Owning U.S. Real Estate

<style type="text/css"> /* Style Definitions */ span.prnews_span { font-size:8pt; font-family:"Arial"; color:black; } a.prnews_a { color:blue; } li.prnews_li { font-size:8pt; font-family:"Arial"; color:black; } p.prnews_p { font-size:0.62em; font-family:"Arial"; color:black; margin:0in; } .prngen2{ PADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt } .prnml4{ MARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT } .prnml40{ MARGIN-LEFT:3.33em !IMPORTANT } .prnbcc{ BORDER-COLLAPSE: COLLAPSE; BORDER-TOP:1pt black; BORDER-RIGHT:1pt black; BORDER-BOTTOM:1pt black; BORDER-LEFT:1pt black } .prntac{ TEXT-ALIGN: CENTER } </style> <p class="prntac"><i>Affluent international consumers are dreaming big when it comes to their U.S. home purchase, says new Coldwell Banker Global Luxury data</i></p> <p><span class="legendSpanClass"><span class="xn-location">MADISON, N.J.</span></span>, <span class="legendSpanClass"><span class="xn-chron">March 7, 2023</span></span> /PRNewswire/ -- From diverse American cities and regions to being inspired by <span class="xn-location">Hollywood</span>, wealthy international consumers are dreaming of home in <span class="xn-location">the United States</span>. According to a recent survey by <a href=";l=en&amp;o=3802280-1&amp;h=2311497493&amp;;a=Coldwell+Banker+Real+Estate+LLC" target="_blank" rel="nofollow">Coldwell Banker Real Estate LLC</a>, an Anywhere<sup>SM</sup> (NYSE: HOUS) brand, and the Coldwell Banker Global Luxury<sup>®</sup> program, affluent international buyers are dreaming big, spurned by location/lifestyle preferences, an overall positive outlook on the U.S. luxury real estate market and more.</p> <div class="PRN_ImbeddedAssetReference" id="DivAssetPlaceHolder1"> <p> </p> </div> <p>In fact, a significant number of respondents say they are optimistic about the state of the U.S. real estate market; 80% of luxury consumers believe purchasing real estate in <span class="xn-location">the United States</span> is a safe investment and 76% rate the current market conditions to purchase a home as &quot;excellent and/or good.&quot;</p> <p>The <a href=";l=en&amp;o=3802280-1&amp;h=4181243574&amp;;a=survey" target="_blank" rel="nofollow">survey</a> conducted in partnership with Censuswide highlights the consumer sentiments of over 1,200 high-net-worth consumers from 12 countries. The findings serve to unpack the dreams, desires and attitudes of international luxury home buyers, offering insight into what's driving their interest in U.S. real estate, where they're dreaming of moving to and the factors impacting those relocation purchases.</p> <p><b>International investors are willing to bet on U.S. real estate:</b></p> <p>Traditionally seen as a hedge against inflation, real estate may provide financial, emotional and psychological stability, especially in the face of uncertain market conditions. International wealthy consumers seek to diversify their real estate portfolios, build generational wealth and make opportunistic buys in luxury markets. In fact, 84% say they already own residential real estate outside of their home country.</p> <p>The survey also reveals, virtually all (97%) respondents from <span class="xn-location">Mexico</span> consider purchasing real estate in <span class="xn-location">the United States</span> as a safe investment, ranking them the most likely country surveyed to do so. Participants from <span class="xn-location">Spain</span> and the <span class="xn-location">United Arab Emirates</span> did not fall far behind with 92% saying that U.S. real estate is a safe investment. </p> <p><b>Desires, dreams and motivations for purchasing in the U.S.: </b></p> <p>Consumer motives and preferences are not universal when it comes to international buyers looking for their dream home in the U.S. The survey indicates that some of the leading motivations to purchase property in America are as follows:</p> <p class="prnml40">1. Frequent work/business trips to <span class="xn-location">United States</span> cities</p> <p class="prnml40">2. <i>Three-way tie:</i> </p> <ul type="disc"><li style="list-style-type: none;"/><ul type="disc"><li>A movie or television series based in <span class="xn-location">the United States</span></li><li>A recent vacation to a <span class="xn-location">United States</span> city</li><li>Investment opportunity</li></ul></ul><p class="prnml40">3. Social media</p> <p class="prnml40">4. Dual citizenship / golden passport</p> <p>The below amenities are rated as the top five most important for international respondents based on their desires when selecting a dream home purchase abroad:</p> <p class="prnml40">1. Latest smart home technology</p> <p class="prnml40">2. Eco-friendly and sustainable design features</p> <p class="prnml40">3. State-of-the-art security system</p> <p class="prnml40">4. Home with breathtaking views</p> <p class="prnml40">5. Privacy</p> <p><b>International consumers are dreaming of new destinations:</b></p> <p>It's evident that <span class="xn-location">the United States</span> has captured the hearts of international home buyers for various reasons with the nation's cities offering diversity in experience and atmosphere from coast to coast. Respondents identified the following as their top choices for their dream location of their next home purchase:</p> <ul type="disc"><li>Cultural diversity and prominent architecture like <span class="xn-location">Chicago</span></li><ul type="disc"><li>Ranked highest by <span class="xn-location">Argentina</span> with over a quarter (27%) of respondents, followed by <span class="xn-location">Costa Rica</span> (20%)</li></ul><li>In the hustle and bustle of a major city like <span class="xn-location">New York</span></li><ul type="disc"><li>Ranked highest by <span class="xn-location">Spain</span> with nearly a quarter (24%) of respondents, followed by <span class="xn-location">Mexico</span> (20%)</li></ul><li>Warm weather with sprawling homes among the glamorous elite like <span class="xn-location">Los Angeles</span></li><ul type="disc"><li>Ranked highest by <span class="xn-location">Portugal</span> with 21% of respondents, followed by <span class="xn-location">Turkey</span> (16%)</li></ul><li>A waterfront property with breathtaking views like <span class="xn-location">Miami</span></li><ul type="disc"><li>Ranked highest by <span class="xn-location">Costa Rica</span> with just under one-fifth (19%) of respondents</li></ul><li>A luxurious resort town in the mountains like <span class="xn-location">Aspen</span></li><ul type="disc"><li>Ranked highest by <span class="xn-location">France</span>, with one-fifth (22%) of respondents </li></ul></ul><p><b>Coldwell Banker Global Luxury Property Specialists can guide you home: </b></p> <p>Luxury property specialists are seen as a trusted resource to a community and all that it offers. The survey results reveal that 88% of respondents are highly likely to lean on the support of an agent when navigating the process of purchasing a home abroad. In addition, younger millionaires aged 25-34 are the most likely age group to use an agent for an international home purchase (97%).</p> <p>As the connection point to their communities, the white glove service and world-class expertise of a top agent provides immeasurable value. Beyond sharing market knowledge, agents serve as resource to sharing insights on other factors luxury buyers consider when purchasing a property, like connections to desired schools, introductions to social groups and much more.</p> <p>Coldwell Banker offers a robust network of affiliated agents and resources available to provide around-the-clock support and expertise needed to navigate the international buying process and help secure their clients' dream home. </p> <p><b>QUOTES: </b></p> <p>&quot;The dream is alive and well for the international consumer; our international survey spotlights what's attracting luxury international buyers to the U.S. real estate market. With 88% of respondents stating that they're likely to use a real estate agent, it bodes well for Coldwell Banker Global Luxury Property Specialists who have the knowledge and network support to provide guidance to these luxury international buyers as they seek their American dream home.&quot;</p> <p class="prnml40">- <b><span class="xn-person">Liz Gehringer</span>, president of Coldwell Banker Affiliate Business and Chief Operating Officer, Coldwell Banker Real Estate LLC</b></p> <p>&quot;The appetite for owning U.S. real estate from overseas buyers has never been stronger according to our survey. From investment opportunities to even being inspired by the entertainment industry and social media, buyers are confident in putting their money towards their dream of making <span class="xn-location">the United States</span> their home away from home. From coast to coast, there are plenty of reasons why wealthy buyers aspire to American living.&quot;</p> <p class="prnml40">- <b><span class="xn-person">Michael Altneu</span>, Vice President, Coldwell Banker Global Luxury<sup>®</sup> program </b></p> <p><b><u>Methodology</u></b></p> <p>The Coldwell Banker Global Luxury<sup>®</sup> program collaborated with Censuswide to gauge luxury international consumer sentiment towards U.S. real estate. The survey consisted of 1,202 people with a household income of $1 million+ who would consider purchasing a luxury home worth $1 million+ from the UK, <span class="xn-location">France</span>, <span class="xn-location">Italy</span>, <span class="xn-location">Portugal</span>, <span class="xn-location">Turkey</span>, <span class="xn-location">United Arab Emirates</span>, <span class="xn-location">Argentina</span>, <span class="xn-location">Canada</span>, <span class="xn-location">Spain</span>, <span class="xn-location">Costa Rica</span>, <span class="xn-location">USA</span> and <span class="xn-location">Mexico</span>, with quotas of a minimum of 100 per the regions targeted. Data contained is from <span class="xn-chron">January 6th, 2023</span> – <span class="xn-chron">January 25th, 2023</span>. Censuswide abides by and employs members of the Market Research Society, which is based on the ESOMAR principles.</p> <p><b><u>About Coldwell Banker Global Luxury<sup>®</sup> program</u></b></p> <p>The Coldwell Banker Global Luxury<sup>®</sup> program legacy traces its roots to 1933 and has been a world leader in luxury real estate since. Coldwell Banker Global Luxury Property Specialists are an exclusive group within the Coldwell Banker<sup>®</sup> system, making up under ten percent of independent sales associates affiliated with the brand worldwide. Coldwell Banker affiliated agents conducted 48,444 transaction sides of homes priced at <span class="xn-money">$1 million</span> or more in 2022. This equates to <span class="xn-money">$288 million</span> in daily luxury sales with an average sales price of <span class="xn-money">$2.2 million</span> in this category.* Coldwell Banker, the Coldwell Banker logo, Coldwell Banker Global Luxury and the Coldwell Banker Global Luxury logo are registered marks owned by Coldwell Banker Real Estate LLC. Each franchise is independently owned and operated.</p> <p><i>*Data based on closed and recorded buyer and/or seller transaction sides of homes sold for <span class="xn-money">$1 million</span> or more as reported by affiliates of the U.S. Coldwell Banker franchise system for the calendar year of 2022. USD$.</i></p> <div><table border="0" cellspacing="0" cellpadding="0" class="prnbcc"><tr><td class="prngen2" colspan="2" rowspan="1"><p class="prnml4"><span class="prnews_span">Media Inquiries:</span></p> </td></tr><tr><td class="prngen2" colspan="1" rowspan="1"><p class="prnml4"><span class="prnews_span">Athena Snow</span></p> </td><td class="prngen2" colspan="1" rowspan="1"><p class="prnml4"><span class="prnews_span">Jackie Hart</span></p> </td></tr><tr><td class="prngen2" colspan="1" rowspan="1"><p class="prnml4"><span class="prnews_span"><b>Coldwell Banker Real Estate LLC </b></span></p> </td><td class="prngen2" colspan="1" rowspan="1" nowrap="nowrap"><p class="prnml4"><span class="prnews_span"><b><span class="prnews_span">G&amp;S for Coldwell Banker Real Estate LLC</span></b></span></p> </td></tr><tr><td class="prngen2" colspan="1" rowspan="1"><p class="prnml4"><span class="prnews_span">973.407.5590</span></p> </td><td class="prngen2" colspan="1" rowspan="1"><p class="prnml4"><span class="prnews_span">845.505.7881</span></p> </td></tr><tr><td class="prngen2" colspan="1" rowspan="1"><p class="prnml4"><span class="prnews_span"><a href="" target="_blank" class="prnews_a" rel="nofollow"></a></span></p> </td><td class="prngen2" colspan="1" rowspan="1"><p class="prnml4"><span class="prnews_span"><a href="" target="_blank" class="prnews_a" rel="nofollow"></a></span></p> </td></tr></table></div><p> </p> <div class="PRN_ImbeddedAssetReference" id="DivAssetPlaceHolder2"> </div> <p>SOURCE Coldwell Banker Global Luxury</p> <img alt="" src=";Transmission_Id=202303070900PR_NEWS_USPR_____NY34142&amp;DateId=20230307" style="border:0px; width:1px; height:1px;"/>

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