Ian: Interesting flip of the normal narrative.

From Better Dwelling: 

According to the National Association of Realtors, the top 5 markets foreign buyers are searching for are Miami, Los Angeles, Bellingham (WA), Kahului-Wailuku-Lahaina (HI), and New York City. All of those markets reported being hot spots for Chinese buyers in 2016. As of March 2017 though, China wasn’t even in the top 5 countries searching these locations.

Instead Canadians topped the list for each one of those cities. In fact, Canadians topped the list for all 20 of the top markets, with the exception of El Centro, California – where they came in second.

Top 5 US Markets By Foreign Search

Miami, FL

  1. 🇨🇦 Canada
  2. 🇧🇷 Brazil
  3. 🇩🇪 Germany
  4. 🇬🇧 UK
  5. 🇦🇷 Argentina

Los Angeles, CA

  1. 🇨🇦 Canada
  2. 🇬🇧 UK
  3. 🇦🇺 Australia
  4. 🇩🇪 Germany
  5. 🇧🇷 Brazil

Bellingham, WA

  1. 🇨🇦 Canada
  2. 🇯🇵 Japan
  3. 🇧🇭 Bahrain
  4. 🇬🇧 UK
  5. 🇦🇺 Australia

Kahulul-Wailuku-Lahaina, HI

  1. 🇨🇦 Canada
  2. 🇦🇺 Australia
  3. 🇬🇧 UK
  4. 🇯🇵 Japan
  5. 🇩🇪 Germany

New York, NY

  1. 🇨🇦 Canada
  2. 🇬🇧 UK
  3. 🇦🇺 Australia
  4. 🇮🇪 Ireland
  5. 🇩🇪 Germany

 

Canadians Are More Likely To Be Non-Resident Buyers

NAR stats show that Canadian and UK buyers are the most likely to buy property for occasional use. Going back to 2016, 80% of Canadian, and 61% of UK buyers were non-resident buyers. To contrast, only 39% of Chinese buyers were non-resident. This means Canadian and UK citizens are more likely to buy property and not move into it. Whereas 61% of Chinese buyers are likely to buy property for relocation.