Foreign Investors Compete for U.S. Suburban Homes
Foreign Investors Compete for U.S. Suburban Homes
Foreign investment firms are reportedly making a big play for single-family homes in American suburbs.
These overseas investment firms traditionally have targeted office buildings, hotels, and shopping centers internationally. But they are seeing promise in buying or building rental homes—by the thousands—throughout the U.S., The Wall Street Journal reports. They’re targeted suburban neighborhood homes near big cities like Atlanta, Las Vegas, and Phoenix.
Foreign investors account for nearly one-third of institutional investment purchases of single-family rental homes, Alex Foshay, head of international capital markets at Newmark, a real estate services firm, told The Wall Street Journal. Their numbers have been elevated since the COVID-19 pandemic, Foshay notes.
That is contributing to the heated housing markets nationwide. More home shoppers may find themselves competing with these wealthy groups of investors while trying to purchase limited housing stock in suburban neighborhoods.
Last month, Allianz SE, a German insurer, said it was investing to buy more than $4 billion of U.S. rental homes. Canada’s Public Sector Pension Investment Board, in partnership with Pretium Partners LLC, is buying $700 million or around 2,000 U.S. homes.
Foreign investors are being drawn to the single-family rental market for the same reasons that U.S. investment firms are. They’re taking notice of the desire for renters to have more space, access to top suburban schools, and accessibility to suburban housing as the limited supply for new houses and high prices may be preventing some from being able to buy.
Source:
©National Association of REALTORS®
Reprinted with permission
admin
For all of your Real Estate needs, place yourself in the competent hands of a career Realtor who is a Philadelphia native and Delaware County resident. Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both.
Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary.
Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that “perfect” property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently.
When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting – or exceeding – his clients’ expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame.
For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania… call Anthony DiDonato.