The National Association of Realtors (NAR) joined with Salon Immobiliario de Madrid, one of Europe’s largest home and resort expos, with the hopes of attracting more international buyers to United States properties.
The NAR said the move comes as the falling value of the U.S. dollar makes second-home buying more attractive to international customers. According to the trade group, more than 100,000 homes in the United States are sold to foreign buyers per year.
“Current valuations of the U.S. dollar against foreign currencies have made U.S. property one of the world’s great bargains, and the prestige of owning U.S. property remains high,” the group said in a statement.
According to the NAR, a 2007 study showed that 18 percent of realtors had “at least one client” involved in an international transaction. In Florida, that number jumps to 65 percent.
This is the fifth year the association has participated in the international second-homes exposition, which concluded on April 12.