REAL ESTATE: Overview

Favorable exchange rates, affordable home prices, increased desire for secure investments and rising affluence abroad continue to drive international buyers to the California for real estate investments.

International buyers come from all over the world, but Canada, China Mexico, India and the U.K. accounted for approximately 54 percent of all reported international transactions in the United States. Canada maintained the largest share of purchases in spite of dropping from 23 percent in 2013 to 19 percent in 2014. However, China held the lead in dollar volume (24 percent), purchasing an estimated $22 billion with an average sale cost of $590,826 per property. By comparison, Americans paid an average price of $199,575, according to the National Association of Realtors´ (NAR) statistics. China was also the fastest growing source of transactions, accounting for 16 percent of all purchases, according to a recent study released by NAR.

Chinese buyers are mostly flocking to Southern California, with Los Angeles, San Francisco and Irvine as their top three choices, according to the survey. Chinese purchased 32 percent of homes sold to foreign buyers in the state, according to an April 2014 survey by the California Association of Realtors.