GLOBAL REAL ESTATE SUMMIT & EXPO
The Staten Island Board of REALTORS and the Brooklyn Real Estate Board held the 10th Global Real Estate Summit & Expo.
A significant share of U.S. home purchases are made by people who are immigrating to the U.S. or whose primary residence is outside the U.S.. Globalization also opens doors for real estate professionals to assist U.S. citizens to make purchases throughout the world, often second homes. New York leads the way in international residential and commercial real estate transactions.
According to NAR's 2016 Profile of International Activity in U.S. International Real Estate:
Foreign buyers purchased 214,885 residential properties, a 3% increase the previous 12-month period.
Foreign buyers typically purchase more expensive properties.
Although foreigners purchased property nationwide, five states accounted for 51% of total residential property purchases: Florida, New York, California, Texas, Arizona.
Today our guests heard from experts who are involved in all aspects of the real estate arena, including top brokers, investors, economic and legal experts, technology experts and the developers who are the movers ands shakers in the New York real estate market who provided first-hand insights about real estate markets around the globe and the unique cultural nuances of these markets.
This conference highlighted current and future real state trends as well as the challenges and opportunities for real estate brokers and agents to leverage the ever expanding global market.
We thank our presenting sponsor InterContinental Capital Group, and all the sponsors and speakers who made today's program possible.