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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Virginia Real Estate a Hot Commodity for Chinese Investors

Virginia Real Estate a Hot Commodity for Chinese Investors

Chinese investors are buying up properties throughout the US at an unprecedented rate. In addition, the speed at which they’re putting their money into American properties is accelerating almost exponentially. In fact, China is the number one buyer of American real estate, followed closely by Canada and Australia, and while they’re investing across the nation, properties in Virginia are among the most popular. Why is this? What’s behind the drive toward investing in Virginia properties as opposed to land in the Carolinas, Georgia, or north in New England? Actually, there are a number of reasons for this.

key bridge in georgetown

Why Virginia?

Really, it’s easy to understand why Chinese investors are snapping up properties in and around Virginia. It’s really all down to that age-old real estate mantra, “location, location, location”. Virginia is uniquely situated with almost anything an investor might want, from a solid infrastructure with main interstates and highways, proximity to the Atlantic Ocean, easy access to states north, south and west, and more. However, the state’s proximity to Washington D.C. is probably an even stronger attraction. Just a short drive away are the nation’s corridors of power. That’s good news for pretty much any investor, particularly those looking for a good return over time.

Washington DC Capitol , USA

Real Estate in Northern Virginia a Diversity of Uses

So, what are Chinese investors actually doing with the billions of dollars’ worth of real estate they’re buying in the US? To what ends do they put those Virginia properties? Chinese investors have the same needs as any other real estate investor, with a couple of differences.

Living In: Chinese investors are heavily involved in the Virginia housing industry and for good reason. While China’s economy might have officially surpassed America’s, that doesn’t mean the country is a great place to live. Those with the means are getting out, and they need somewhere to go. A posh country home in Virginia is a great option, but they’re actually happier with a location in an urban area. Multifamily properties are highly sought after by Asian investors for both income needs as well as for relocation purposes.

Return on Investment: One of the most common reasons for anyone to invest in real estate is to make a return on that purchase at some point. Chinese investors are savvy, and because the majority of purchases are made by groups ranging from insurance companies to wealth funds to ultra-wealthy families, many of these buyers are looking to put in their capital, let the investment mature, and then sell for a profit later on.

Trophies: Most of the properties purchased by Chinese investors will never actually see the owners in person. They’re “trophy properties”, or “postcard properties” according to sources ranging from Forbes to CNN Money. In fact, in a story for West Virginia Public Broadcasting, Dan Fasulo says these are, “The pretty pictures they can show around back home and everyone will know what they’re looking at.”

homes-1

Virginia Real Estate a Hot Commodity for Chinese Investors

As China’s economy continues to grow, American property owners can expect to see more and more investments from Chinese individuals, families and groups for these purposes and more.

Source:

http://wvpublic.org/post/asian-investors-find-hot-market-us-properties

http://realestate.aol.com/blog/2013/07/08/chinese-homebuyers-flood-us-housing-market/

http://finance.yahoo.com/news/official-america-now-no-2-150936444.html

http://www.forbes.com/sites/kenrapoza/2013/07/10/chinese-to-spend-billions-on-american-real-estate/

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