The Real Deal Miami

Fewer foreigners buying U.S. real estate 

August 12, 2008 08:14AM

Despite the weak dollar and falling real estate prices, only 26 percent of 4,000 surveyed U.S. real estate agents had worked with foreign clients between May 2007 and May 2008, down from 32 percent during the same period last year. In both years, about half of the foreign clients eventually bought homes. Those that didn’t were discouraged by the cost of property, immigration laws that prevent them from living in the U.S. year-round and property taxes.