It may not come as a surprise that Georgetown is number one.
A report released Thursday revealed that DC is not a favorite for foreign homebuyers on the hunt — but when they search in the area, they like Georgetown the best.
Most of the foreign home searches focused on places like Los Angeles, Fort Lauderdale and Miami, according to the Trulia study. Trulia economist Jed Kolko provided UrbanTurf with data on which neighborhoods were most targeted by Trulia searches originating from overseas. Here’s what we learned:
- Georgetown sat at the top of the list. The tony DC neighborhood was the subject of 10.9 percent of foreign searches in the DC area.
- Foggy Bottom and West End competed closely, drawing another 9.7 percent of searches.
- Tied at 8.7 percent were Forest Hills and the Cathedral Heights/American University neighborhood.
- Coming in between 8.3 and 7.3 percent were Bethesda, Chevy Chase DC and Dupont Circle.
DC didn’t crack Trulia’s top 15 metros where foreign searches were most often focused. The study found, surprisingly, that “foreign search share is rising in dense, urban neighborhoods but falling in vacation areas.” Vacation areas still get more love right now, but if trends continue, New York City will outpace vacation cities like Fort Lauderdale, for example.
Trulia’s analysis also looked at the users’ countries of origin. Canada came out on top with the most searches. Next up were the United Kingdom, followed by Germany, Brazil and India. Check out the rest of the study here.
This article originally published at https://dc.urbanturf.com/articles/blog/where_foreign_nationals_are_looking_to_buy_in_dc/8640.
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