Northern Virginia – An International Real Estate Investing Mecca

Washington DC Capitol , USA

Northern Virginia – An International Real Estate Investing Mecca

While the US as a whole continues to experience widespread interest from the international real estate investing sector, there are a few spots in the country that stand out. Of course, you’ll find New York and San Francisco on the list, as well as Houston. However, you’ll also find Washington D.C. on the list. While the D.C. area as a whole has fallen to fifth place in the nation, northern Virginia has risen, with cities like Arlington, Alexandria and Richmond becoming preeminent places for international real estate investors and relocation.

Why the Influx?

Why is northern Virginia experiencing such a massive influx of new residents from around the world? Actually, there are quite a few reasons, and each ethnic group moving here has a different driving force. Chinese residents are the fastest growing segment of the state’s population, and they’re coming to take advantage of employment, affordable housing and good schools. Indian residents have similar needs, and actually make up the most affluent demographic in the US (as well as in Virginia). Other nationalities come for a number of other reasons, including:

  • Affordable real estate – This is particularly true in comparison with the greater D.C. area, New York and San Francisco.
  • Excellent earning potential – Northern Virginia residents enjoy a higher annual income on average than anywhere else in the country.
  • Employment outlook – Tech companies as well as a range of other employers are moving to the state in significant numbers, offering excellent employment options.
  • A cultural melting pot – Virginia, particularly the northern half, is becoming a true cultural melting pot, and many foreign investors choose to move here to take advantage of that.

Where Are They Moving?

So, where are international buyers purchasing real estate? Where are they moving? You have a few main hubs – Richmond, Arlington and Alexandria, for instance. These cities offer direct access to Washington D.C. and the halls of power without forcing residents to actually live in the nation’s capital. There are other areas as well. For example, Fairfax County is home to almost 200,000 Asian residents.

Of course, not all international relocations are to major cities like those listed above. Others choose to move outlying areas where property prices are even lower, or to education hubs like Charlottesville.

What Are They Buying?

Predicting what various international buyers are purchasing is difficult, mainly because of the wide discrepancies between nations of origin, reasons for moving to Virginia and other factors. International real estate investors not relocating to the area tend to invest in multifamily properties, including apartments and condos. Townhomes are also popular. However, those choosing to move to the state permanently or semi-permanently purchase single-family homes or condos in walkable neighborhoods (this last is a prime target for Indian buyers, who value the ability to get around on foot).

The old Virginia is long gone – today’s state is culturally diverse and becoming increasingly more so every day. It’s an amazing time to live in northern Virginia, regardless of your nation of birth.

Source:

http://www.washingtonexaminer.com/koreans-indians-lead-northern-virginias-asian-population-boom/article/116434

Contact Gene Mock, Associate Broker, Premier Team, Keller Williams Realty for more information about moving to Northern VA

Gene Mock Realtor http://northernvirginiarealty.com/

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Canadian Investors in Northern VA Why, What and Where

Canadian Investors in Northern Virginia – Why, What and Where

living room

It’s no secret that Canadian investors in real estate have been making inroads into the US property scene for a long time. In fact, until just a few years ago, Canada was the single largest foreign real estate investor in America. While Chinese investors recently outperformed Canadian investors, you’ll find our northern neighbors are still avidly buying up properties across the country. And while states like Ohio, Utah and Michigan are very popular, many choose to buy in northern Virginia.

Why Virginia?

Many areas have undeniable appeal to real estate investors from abroad. Utah is rich in resorts, and buying properties around these areas gives investors a decent reward on their investment. Ohio has a very stable population, and cities like Columbus have increasing demands in the area of rental housing, making them smart choices. Even Detroit, Michigan is easy to understand – investors love the rock-bottom pricing. Why do so many choose northern Virginia, though? It’s all about location. Northern Virginia properties give investors something impossible to find anywhere else – proximity to the nation’s capital, combined with relatively low real estate prices and a stable real estate market.

Kentucky Horse Farm

Where in Virginia?

The “where” of things is a bit harder to nail down. Chinese investors tend to buy properties in highly urbanized areas near high-tech firms, or else within cultural enclaves in the state. Canadians share a very similar culture with Americans, and aren’t restricted by language barriers. Additionally, many are choosing to move away from highly urbanized areas for their investing because of high competition from other international investors. Where are they turning? More and more are putting their money into properties in smaller regional hubs that connect small town America, rather than big cities. So, you’re more likely to see Canadian real estate investors active in places like Charlottesville than Arlington.

Brambleton Condo2

What Are They Buying?

This one is even more difficult to nail down than the “where” – Canadian real estate investors are interested in a very wide range of different properties. Those with enough capital tend to focus on high-end properties with proximity to major hubs and the corridors of power in D.C., while others focus on smaller multiunit properties away from those major hubs. Single-family properties are popular as well, and provide a significant return on an initial investment. More and more Canadians are considering multifamily housing as a good investment as well. Apartment buildings, condos and the like are easily marketable and in high demand, particularly as northern Virginia’s population continues to climb with the recent influx of new employers and international residents to the area.

Key Features for Canadian Investors

Canadian Real Estate Wealth is a leading magazine dedicated to real estate investors in Canada, and it offers valuable insight into the minds of these investors, particularly what makes an appealing property. In an article published in December 2014, Ken Davidson recommends basing an investment decision on factors like high accessibility, public infrastructure redevelopment, employment trends, population growth and price.

Canadian real estate investors find that northern Virginia meets all of these criteria, providing a sound investment option.

Source:

http://www.canadianrealestatemagazine.ca/strategy/10-tips-to-find-the-best-locations-for-real-estate-investment-186483.aspx

Canadian Investors in Northern VA Why, What and Where

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