Real Estate in Los Angeles

Foreign investments into the United States luxury real estate market have hit a new high, according to a recent market report from Beauchamp Estates in association with Leslie J Garfield & Co. Titled U.S. Ultra Prime Real Estate, the report—which includes analysis by Dataloft and Trulia—looked at foreign investments for U.S. properties that were priced above $1 million. In the 12 months leading up to March 2017, foreign sales topped $7.48 billion, up 72 percent from the previous year. According to the National Association of Realtors, 44 percent were all-cash purchases.

“Data from the National Association of Realtors shows that just five overseas countries dominate investment into U.S. residential real estate, accounting for 50 percent of all transactions,” says Jed Garfield, president of Leslie J Garfield & Co. “They are Canada, the United Kingdom, China, Mexico, and India.”

Perhaps most interestingly, the report found that around 40 percent of overseas buyer transactions for properties above $2,700 per square foot were concentrated in three major hubs: Miami, Manhattan, and Los Angeles. Miami Beach, North Bay Road, and Palm…