The United States is known for its tendency to supersize things – a few years ago, McMansions were in high demand. Recently, however, there has been a shift in focus, perhaps because of the changes in the economy. Today the average American is looking for a 1,854 square foot home. So what will become of all those big houses? Don’t worry; much of the rest of the world is interested.
The Dutch are most likely to buy large properties in the United States. The average buyer from the Netherlands looking for an American home will look at houses around 2,400 square feet. Ireland and the United Kingdom are close behind, looking for American homes in the range of 2,300 square foot. These house hunters are followed by fellow Europeans in Sweden, Norway, Belgium, Germany and Poland, as well as those down under in Australia, with all these countries averaging between 2,100 to 2,287 square feet. Buyers in the United Arab Emirates want houses in the 2,000s, as do those in Singapore, Spain, Japan, Switzerland, France, Afghanistan, and South Korea. China, Hong Kong and Brazil are next, and the Philippines are at the bottom of those who buy big, with their median 1,876 slightly above what American’s are seeking.
These numbers come from research conducted by a major real estate syndicator. The study indicated that although other countries make fun of America’s love of all things large; they’re very likely to look for the biggest homes available when looking for a house in America.
Of course, not everyone wants a huge house. Argentineans typically look for smaller homes, looking primarily in Miami for houses with a median square footage of around 1,300 square feet. Israeli’s, also, look for smaller places, with a preference for purchasing properties in New York. The fact that Israeli and Argentine buyers are interested in condo-heavy geographic regions may be part of the reason they seek smaller units.
It’s interesting to watch real estate trends and how American’s preferences measure against the preferences of the rest of the world. If you’re interested in working with real estate professionals who have a keen understanding of the real estate market, consider First Preston HT. Whether you’re buying or selling a home, using real estate to diversify your investment portfolio, or in search of a better way to manage rental properties, First Preston HT has the knowledge and expertise to meet your needs, backed by visionary and innovative technology. Visit the website for more information, or connect with the online community on Facebook and Twitter.
Sources
AGBeat http://agbeat.com/real-estate-news-events/foreign-house-hunters-are-searching-for-mcmansions/
[gravityform id=”1″ name=”Contact Us”]