WORKING WITH
INTERNATIONAL
HOME BUYERS IN
CALIFORNIA
Presented by
Carmen Hirciag
Senior Research Analyst
THINK GLOBALLY
What is going on in the world economy?
GLOBAL GDP EXPECTED TO IMPROVE
US GDP GROWTH HAS BEEN MODERATE
ANNUAL PERCENT CHANGE, CHAIN-TYPE (2005) $
6%
2014 QUARTERLY
ANNUAL
5%
4.6%
5.0%
4%
3.1%
3%
2.7%
1.9%
2%
2.8%
2.4%
1.9%
1.8%
1%
0%
-0.3%
-1%
-2%
-2.1%
-3%
-3.1%
-4%
2005
2006
2007
2008
2009
2010
SERIES: GDP
SOURCE: US Dept. of Commerce, Bureau of Economic Analysis
2011
2012
2013
Q1-14 Q2-14 Q3-14
GLOBAL UNEMPLOYMENT DECLINING
US & CA UNEMPLOYMENT RATES FALLING SLOWLY
14%
CA
US
12%
10%
8%
7.2%
6%
5.8%
4%
2%
0%
SERIES: Unemployment Rate
SOURCE: US Bureau of Labor Statistics, CA Employment Development Division
US & CA LABOR FORCE PARTICIPATION RATE ALSO
FALLING SLOWLY
CA
69%
67%
65%
63%
61%
59%
SERIES: Labor Force Participation Rate
SOURCE: BLS, Data Buffet
US
GLOBAL INFLATION STEADY
US INFLATION IS HEALTHY
6%
5%
4%
3%
2%
1%
0%
-1%
-2%
-3%
SERIES: Consumer Price Index
SOURCE: US Bureau of Labor Statistics
DOLLAR VALUE RISING
Value of Dollar Vs Basket of Currencies
140
130
120
110
100
90
80
70
60
SOURCE: Federal Reserve Board
2014.01
2013.01
2012.01
2011.01
2010.01
2009.01
2008.01
2007.01
2006.01
2005.01
2004.01
2003.01
2002.01
2001.01
2000.01
50
FDI NET INFLOWS GROWING
$350.0
$300.0
Billions of $
$250.0
$200.0
$150.0
$100.0
$50.0
$0.0
Source: The World Bank
FDI IN REAL ESTATE DOWN
$4,000.0
$3,500.0
Millions of $
$3,000.0
$2,500.0
$2,000.0
$1,500.0
$1,000.0
$500.0
$0.0
Source: Bureau of Economic Analysis
INTERNATIONAL HOME BUYERS IN
THE U.S.
INTERNATIONAL PURCHASES ACCOUNT FOR 7% OF
REAL ESTATE TRANSACTIONS IN U.S.
Sales (Billions)
Foreigners (nonUS resident)
3%
Foreigners (US
resident)
4%
Noninternational
93%
Source: NAR 2014 Profile of International Home Buying Activity
COUNTRY OF ORIGIN OF INTERNATIONAL BUYERS
Canada
19%
China
16%
Mexico
9%
India
5%
UK
5%
0%
5%
10%
Source: NAR 2014 Profile of International Home Buying Activity
15%
20%
INTERNATIONAL BUYERS PREFER FL
25%
23%
20%
15%
14%
12%
10%
5%
0%
Source: NAR 2014 Profile of International Home Buying Activity
6%
4%
CALIFORNIA HOUSING MARKET
The Impact of International Home Buyers
SURVEY METHODOLOGY
• email to random sample of CA REALTORS® in OctoberNovember 2014
• 466 respondents
• closed escrow within 12 months prior to October/November
2014 with an international client (one who is not a citizen or
permanent resident of the US)
AGENT’S GENERAL
INTERNATIONAL BUSINESS
CLOSED TRANSACTIONS IN THE PAST 12 MONTHS
DECLINED
Median
12
11
9
10
8
6
4
2
0
2013
Q. How many real estate transactions did you close during the past 12 months?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
2014
SLIGHTLY MORE REALTORS® CLOSED A TRANSACTION
WITH AN INTERNATIONAL CLIENT IN 2014
18%
17%
16%
16%
14%
12%
10%
8%
6%
4%
2%
0%
2013
2014
Q: How many of those closed transactions involved an international client (one whose permanent residence is located outside the
United States)?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
# OF TRANSACTIONS CLOSED DECLINED
Median
3.3
3.5
2.9
# of Transactions
3
2.5
2
1.5
1
0.5
0
2013
2014
Q: How many of those closed transactions involved an international client (one whose permanent residence is located outside the
United States)?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
LAST TRANSACTION
MAJORITY ARE BUYERS
Buyer
100%
80%
Seller
Both
12%
8%
30%
22%
57%
70%
60%
40%
20%
0%
2013
2014
Q: Which side did you represent?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
MAJORITY BOUGHT IN SOUTHERN CALIFORNIA
2013
2014
65%
70%
60%
54%
50%
40%
29%
23%
30%
18%
12%
20%
10%
0%
Southern CA
Northern CA
Q: Where was the property in your closed transaction with an international client located?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
Other CA
TOP COUNTIES FOR INTERNATIONAL BUYERS
County
Percentage of Clients
Los Angeles
20%
San Diego
9.3%
Riverside
9.0%
Orange
8.7%
Alameda
7.9%
Santa Clara
5.4%
Sacramento
5.1%
Contra Costa
4.5%
San Mateo
3.7%
San Francisco / San Bernardino
2.8%
Q: Where was the property in your closed transaction with an international client located?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
MOST SALES NOT DISTRESSED
2013
2014
89%
90%
79%
80%
70%
60%
50%
40%
30%
20%
8%
10%
4%
7%
3%
5%
0%
Equity Sale
REO Sale
Q: What type of purchase did your last international client(s) make?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
Short Sale
Other
4%
MEDIAN LISTING PRICE UNCHANGED
$500,000
$500,000
2013
2014
$500,000
$450,000
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$0
Q: What was the initial listing price of the property in your last closed transaction with an international clients?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
MEDIAN FINAL SALE PRICE: $490,000
6%
$2M+
16%
$1M to $1.9M
4%
4%
$900,000 to $999,999
$800,000 to $899,999
5%
$700,000 to $799,999
7%
6%
$600,000 to $699,999
$500,000 to $599,999
14%
13%
12%
13%
$400,000 to $499,999
$300,000 to $399,000
$200,000 to $299,999
Less than $200,000
0%
2%
4%
6%
8%
10%
12%
Q: What was the final sale price of the property in your last closed transaction with an international client?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
14%
16%
18%
MEDIAN FINAL SALE PRICE DROPPED 1.5%
Median
$500,000
$450,000
$497,500
$490,000
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$0
2013
2014
Q: What was the final sale price of the property in your last closed transaction with an international client?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
SALE PRICE 2% LOWER THAN LIST PRICE
Median
$500,000
$450,000
$500,000
$490,000
List
Sale
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$0
Q: What was the final sale price of the property in your last closed transaction with an international client?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
MAJORITY INTEND TO USE THE PROPERTY AS A
PRIMARY RESIDENCE OR INVESTMENT
43%
Primary Residence
36%
33%
Investment/Rental Property
29%
2014
20%
Vacation/Second Home
Other
2013
29%
4%
0%
0%
5%
10%
15% 20% 25% 30%
35% 40% 45% 50%
Q: What was the intended use of the property in your last closed transaction with an international client?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
MORE BUYERS PURCHASING PROPERTIES BELOW
$500K FOR INVESTMENT
120%
100%
2%
80%
40%
3%
17%
4%
4%
34%
33%
Other
25%
Investment
60%
19%
21%
20%
40%
Primary residence
56%
20%
Vacation/2nd home
37%
43%
43%
0%
below $500k $500k-$1M Above $1M
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
All buyers
MORE BOUGHT CONDOS/TOWNHOMES
67%
Residential detached SFH
59%
23%
28%
Residential condo/townhome
4%
5%
Residential MFH
2014
4%
6%
Other
Comercial retail space
1%
2%
Commercial office space
1%
1%
0%
10%
2013
20%
30%
Q: What type of property did your last international client purchase/sell?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
40%
50%
60%
70%
80%
NEARLY HALF BOUGHT IN THE SUBURBS
48%
Suburban
42%
33%
Central city/urban
38%
10%
9%
Small town/rural area
2014
2013
9%
9%
Resort area
1%
2%
Other
0%
10%
20%
30%
40%
Q: Please select the category that best describes the location of the property in your last
closed transaction with an international client?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
50%
60%
MEDIAN SQUARE FEET: 1,900
5,000+ ft
8.2%
4,000 - 4,999 ft
2.9%
3,000 - 3,999 ft
9.6%
2,000 - 2,999 ft
28%
1,000 - 1,999 ft
45%
< 1,000 ft
6.6%
0%
5%
10%
15%
Q: How many square feet did the property have?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
20%
25%
30%
35%
40%
45%
50%
MEDIAN SQUARE FEET 5% LOWER IN 2014
Median
S
q
u
a
r
e
F
e
e
t
2,000
1,800
1,600
1,400
1,200
1,000
800
600
400
200
0
2,000
2013
Q: How many square feet did the property have?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
1,900
2014
WHY BUY NOW?
2014
2013
23%
To rent out property
14%
15%
Changed jobs/relocated
12%
10%
Change in family status
4%
To flip for profit
0%
5%
Q: What was your clients’ main reason for buying now?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
10%
15%
20%
25%
MAJORITY ONLY CONSIDERED THE U.S.
Only US
100%
90%
Other countries
22%
25%
78%
75%
80%
70%
60%
50%
40%
30%
20%
10%
0%
2013
Q: In which cities outside the U.S. did your buyer consider purchasing real estate?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
2014
WHY THE UNITED STATES?
2014
2013
30%
To be closer to friends and family
21%
22%
Other
20%
Investment/tax advantages
8%
13%
Child attending college
13%
Business
6%
Acquire legal status
0%
5%
10%
Q: Why did your last international buyer choose to purchase in the U.S.?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
15%
20%
25%
30%
35%
MORE BUYERS PURCHASING PROPERTIES ABOVE $1M
FOR INVESTMENT & BUSINESS
To be closer to family/friends
Investment/tax advantages
$1M+
Business
$500k-$1M
below $500k
All buyers
Child attending college
Acquire legal
status/immigration
0%
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
10%
20%
30%
40%
50%
FEWER FIRST TIME BUYERS
60%
59%
50%
54%
40%
30%
20%
10%
0%
2013
2014
Q: In your last closed transaction with an international client, was that the buyer’s first home purchased in the U.S.?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
96% OF INTERNATIONAL BUYERS OWN OTHER
PROPERTIES
30%
26%
27%
25%
19%
20%
15%
11%
10%
6.8%
5%
2.7%
0%
1
2
3
Q: How many other properties does your last international buyer own?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
4
5
6+
AVERAGE NUMBER OF OTHER PROPERTIES OWNED
DECLINED
3.2
3.5
2.8
3.0
2.5
2.0
1.5
1.0
0.5
2013
Q: How many other properties does your last international buyer own?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
2014
MORE CLIENTS HIRED PROFESSIONALS TO HELP
FACILITATE TRANSACTION IN 2014
25%
23%
20%
15%
13%
15%
Attorney
Accountant
10%
7%
5%
0%
2013
2014
Q: Did your client hire any of the following professionals to help facilitate the transaction?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
FEWER PROPERTIES FOUND OFF THE MLS
MLS
My listing
Other
Client found property
2014
Off-MLS Listing
2013
Open house
Builder
Advertisement
From seller directly
0%
10%
20%
Q: How did you find the property for your international buyer?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
30%
40%
50%
60%
70%
BUYERS INTEND TO KEEP THE PROPERTY LONGER
Median
7
7
# 6
o
f
5
5
4
Y 3
e
a 2
r
s 1
0
2013
Q: How many years does your last international buyer intend to keep the property?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
2014
MORE PROPERTIES MANAGED BY PROPERTY
MANAGERS IN 2014
Owner
100%
Property Manager
Other
11%
13%
36%
38%
53%
49%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
2013
2014
Q: Who will manage the property in your last closed transaction with an international client?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
FINANCING
FEWER INTERNATIONAL BUYERS PAID CASH
All cash
Cash from financing in home country
Obtained financing in US
100%
90%
31%
35%
80%
3%
70%
60%
50%
40%
69%
63%
30%
20%
10%
0%
2013
Q: How did your last international buyer pay for the property?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
2014
MORE BUYERS PURCHASING PROPERTIES BELOW
$500K PAID CASH
100%
90%
80%
70%
31%
40%
39%
2.8%
1.5%
3.2%
60%
35%
3.0%
50%
Cash from financing in
home country
40%
30%
Obtained US financing
66%
57%
60%
63%
20%
10%
0%
below
$500k
$500k-$1M Above $1M All buyers
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
All Cash
DOWN PAYMENT DECLINED
30%
30%
25%
23%
20%
15%
10%
5%
0%
2013
2014
Q: How much was the down payment for the home purchased (as a percentage of the sale price)?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
DOWN PAYMENT CAME MOSTLY FROM PERSONAL
SAVINGS
2014
2013
85%
82%
Personal savings
11%
15%
Proceeds from a sale of previous property
7%
5%
Gift
5%
2%
Sale of personal assets (other than real property)
3%
2%
Other
0%
10% 20% 30% 40% 50% 60% 70% 80% 90%
Q: What was the source of the down payment in your last closed transaction with an international buyer? N=87
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
MORE ACQUIRED FIXED RATE LOANS IN 2014
2013
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
80%
2014
84%
16% 14%
5%
Fixed rate
Adjustable rate
Q: What type of loan did your last international buyer acquire?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
Other
2%
MORE ACQUIRED 30-YEAR LOAN TERMS
2013
2014
78%
80%
71%
70%
60%
50%
40%
30%
20%
10%
10%
15%
8%
8%
5%
6%
0%
30 years
10 years
Other
Q: What is the duration of the loan in your last closed transaction with an international buyer?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
15 years
OBTAINING FINANCING IS LESS DIFFICULT
6.0
5.0
4.6
5.0
4.0
3.0
2.0
1.0
0.0
2013
2014
Q: Please rate how easy or difficult it was for your last international buyer to obtain financing. (1=Very easy, 10=Very difficult)
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
MAJORITY DIDN’T HAVE PROBLEMS WITH
TRANSACTION
16%
Finding a property
15%
Bringing funds into the US
3%
Immigration
2%
Finding insurance
1%
Figuring out property taxes
0%
2%
4%
6%
8%
10%
Q: What, if any, other problems did your last international buyer encounter with the transaction?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
12%
14%
16%
CLIENT / AGENT RELATIONSHIP
REFERRALS ARE BEST WAY TO FIND
INTERNATIONAL BUYERS
Referral from a friend
22%
Referral from a previous buyer
21%
Client found me online
15%
Client is a friend
7%
Open house
7%
Referral from another agent
6%
Client responded to my ad
5%
"For Sale" sign
4%
Prior dealings with my brokerage
2%
0%
Q: How did you find your last international client?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
5%
10%
15%
20%
25%
INTERNATIONAL WEBSITES ARE GOOD WAY
TO REACH FOREIGN BUYERS
38%
International websites
2%
International magazines
2%
International social media
0%
5%
10%
Q: How did you market yourself to international clients?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
15%
20%
25%
30%
35%
40%
EMAIL IS MOST POPULAR FORM OF
COMMUNICATION
60%
55%
50%
40%
30%
30%
20%
8%
10%
6%
1%
0%
Email
Telephone
Text Message
Q: How did you primarily communicate with your last international client?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
Other
Video Calls
MOST AGENTS & CLIENTS COMMUNICATE IN
ENGLISH
80%
English
11%
Chinese
6%
Spanish
4%
Other
0%
10%
20%
30%
40%
50%
Q: In which language did you primarily communicate with your last international client?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
60%
70%
80%
MAJORITY AGENTS & CLIENTS
COMMUNICATE VIA SMARTPHONE
2014
2013
54%
Smartphone
45%
31%
31%
Laptop
5%
7%
Mobile phone
4%
6%
Other
3%
4%
Desktop
Tablet
2%
Landline
1%
2%
4%
0%
10%
20%
30%
40%
Q: Which technological device did you utilize the most in communicating with your last international client?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
50%
60%
HALF FOUND PROPERTY IN 1 MONTH OR
LESS
50%
50%
45%
40%
35%
30%
25%
18%
20%
14%
15%
8%
7%
10%
5%
2%
2%
17-20
21-24
0%
0-4
5-8
9-12
12-16
# of Weeks
Q: How many weeks did you spend looking for a property with your last international buyer?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
24-52
FEWER WEEKS SPENT LOOKING FOR
PROPERTY
Average
12
10
11.1
8
8.4
# of Weeks 6
4
2
0
2013
2014
Q: How many weeks did you spend looking for a property with your last international buyer?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
MAJORITY VIEWED < 9 PROPERTIES
30%
24%
25%
20%
15%
13%
10%
5.1%
5%
6.6%
8.1%
9.6%
8.5%
5.5%
6.6%
6.6%
20-30
30-50
3.7%
2.6%
0%
1
2
3
4
5
6
7
# of Properties
8
9-15
16-20
Q: How many different properties did you view with your last international buyer prior to the client making a purchase?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
FEWER PROPERTIES VIEWED IN 2014
Median
9.0
8.0
9.0
8.0
# of Properties
7.0
6.0
5.0
4.0
3.0
2.0
1.0
2013
2014
Q: How many different properties did you view with your last international buyer prior to the client making a purchase?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
70% MADE MULTIPLE OFFERS
25%
20%
20%
18%
15%
11%
10%
6%
5%
5%
7%
3%
0%
1
2
3
4
5
Number of Other Offers
6-10
11+
Q: How many offers did your last international buyer make on other properties (in addition to the one purchased)?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
FEWER OFFERS MADE IN 2014
Average
4.1
O
t
N
h
u
e
m
r
b
e
O
r
f
f
o
e
f
r
s
5
4
4
2.5
3
3
2
2
1
1
0
2013
2014
Q: How many offers did your last international buyer make on other properties (in addition to the one purchased)?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
WHO ARE INTERNATIONAL
BUYERS?
Demographics
TYPICAL INTERNATIONAL BUYER
81%
Married
81%
College
Educated
74%
Male
43
Years Old
47%
Asian
$200K
Median
Income
MANY INTERNATIONAL CLIENTS FROM
CHINA
2014
2013
36%
35%
China
11%
Canada
14%
9.1%
8.3%
Mexico
UK
4.7%
3.5%
India
4.7%
3.8%
0%
5%
10%
15%
20%
25%
30%
Q: Please tell us about your last closed transaction with an international client. What is your client’s country
of permanent residence?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
35%
40%
CHINESE REMAINS TOP LANGUAGE AMONG
INTERNATIONAL BUYERS
Chinese
38%
English
29%
Spanish
10%
Japanese
2.9%
German
2.9%
French
2.6%
Russian
2.2%
0%
5%
10%
15%
Q: What is your last international client’s primary language?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
20%
25%
30%
35%
40%
MAJORITY ARE INDIVIDUALS
LLC 6%
Other
Corporation 4% 5%
Individual 84%
Q: Was your last international client a(n):
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
MAJORITY OF INDIVIDUAL BUYERS ARE MALE
74%
80%
70%
60%
50%
40%
30%
20%
10%
0%
Q: What is your (last international) clients’ gender?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
26%
INTERNATIONAL BUYERS ARE GETTING
YOUNGER
Median
45
45
43
40
35
30
A 25
g
20
e
15
10
5
0
2013
Q: What was your (last international) client’s age at the time the transaction closed?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
2014
MOST INTERNATIONAL BUYERS ARE
MARRIED
Other 1%
Single 18%
Married 81%
Q: What was your (last international) client’s marital status at the time the transaction closed?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
> 8/10 INTERNATIONAL BUYERS ARE COLLEGE
EDUCATED
46%
50%
45%
40%
35%
35%
30%
25%
20%
11%
15%
10%
5%
5%
1%
2%
0%
Grade school
or less
Some high
school
High school
Some college 4-year college
Graduate
school
Q: What is the highest level of education your (last international) client had completed at the time the transaction closed?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
OCCUPATION OF INTERNATIONAL BUYERS
15%
Business/owner
12%
Engineer
11%
IT
Finance
5.0%
Doctor
5.0%
Attorney
5.0%
Teacher
4.0%
Manufacturing
4.0%
3.0%
Banker
Investor
2.0%
Developer
2.0%
0%
2%
4%
Q: What does your last international client do for a living?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
6%
8%
10%
12%
14%
16%
NEARLY 1/2 INTERNATIONAL BUYERS ARE
ASIAN
E
t
h
n
i
c
i
t
y
47%
Asian
27%
White
14%
Other
Hispanic
11%
Black
1%
0%
10%
20%
30%
Q: How would you describe your (last international) client’s ethnic background?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
40%
50%
ANNUAL INCOME/REVENUE
$200,000
$200,000
2013
2014
$200,000
$180,000
$160,000
$140,000
$120,000
$100,000
$80,000
$60,000
$40,000
$20,000
$0
Q: What is your (last international) client’s annual income/revenue?
SERIES: 2014 International Home Buyer Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®
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