US Real Estate Market to See Huge Boost Thanks to Overseas Investors

The United States lifted the ban on vaccinated travelers from 33 countries earlier this week, which is expected to boost the US real estate market. Wealthy real-estate buyers from overseas are expected to flock the nation’s housing market, and give a boost to demand for luxury apartments and mansions.

Travelers from Europe, China, Brazil, and India will now be able to enter the U.S. for the first time nearly in two years. Real estate brokers in cities popular among overseas customers, New York, Los Angeles, Miami, say their schedule has been filled with foreign investors.

Past sales data shows foreign investors could generate billions of dollars of additional revenues for the real estate business. They spent $267 billion in 2018 and $183 billion in 2019 but the spending dropped to $107 billion because of the pandemic restrictions.

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