Bullas

REAL ESTATE

Bullas

Foreign

HOME VALUES 

Texas foreign home buys fall again

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Foreign buyers snapped up almost 14,000 Texas homes last year.

During the 12 months ending in March, foreign buyers purchased $6.6 billion in Texas properties, according to the Texas Realtors association’s annual study.

That’s down significantly from the $7.8 billion in Texas housing purchased by foreigners in the 2019 report.

And home purchases in 2019 by international buyers fell 28% in Texas from 2018 levels.

Texas accounted for 9% of total U.S. foreign home purchases in the most recent study.

“Despite the slight drop in foreign buyers compared to the previous reporting period, Texas remained a top state for international buyers, particularly those coming from Latin America,” Cindi Bulla, chairman of Texas Realtors, said in the report. “Texas continues to enjoy strong international real estate sales activity.

“From relocations to commercial or residential, foreign buyers choose Texas because of our resilient economy, job availability, investment opportunities and friendly business climate.”

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HOME VALUES 

Waiting For The Return Of Foreign Real Estate Buyers

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The coronavirus pandemic has dramatically affected the Cypriot real estate market. The sector has traditionally been highly dependent on foreign buyers, especially in recent years due to the impact of the ‘golden passports’ investment program.

As shown in the semi-annual report of Pandora Investments Public, sales during the pandemic amounted to approximately $41 million, compared to $62.4 million in 2019. Pandora is a part of Leptos Group, one of the largest land developers in Cyprus.

Similarly, the gross sales of Aristo Developers Ltd, declined by 69% between January-June 2020, compared to the same period in 2019. The decline was “primarily due to the worldwide travel restrictions imposed following the COVID-19 pandemic which made it impossible

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