According to a report by Coldwell Banker, 67% of wealthy American buyers own properties outside the U.S. Central America is currently the top preference for Americans, followed by Canada, Asia, South America and Europe.
According to the National Association of Realtors roughly 65% of clients searching for a home overseas in 2022 were interested in a property to rent out or use as a vacation home.
Figures suggest that the number of wealthy Americans who purchased property abroad in 2022 was expected to rise by 14% from 2021.
Experts note that some of the buyers may be looking for an investment property or vacation home, while others could be looking to relocate entirely.
It is also worth noting that while the 55+ age group has the largest share of foreign property ownership, the 25-34 age group has moved up from last to second position.