Despite a recent slump in sales to foreign real estate investors, Texas homes are still selling – accounting for nearly 10% of homes sold to international homebuyers across the nation. Texas’ strong economy is cited as one of the top reasons for foreign investors moving to and purchasing homes in Texas. With its strong ties to Mexico and Latin America, Texas remains a strong hold for foreign investment of all kinds, which often leads to immigration into the state.
Houston ranks number one overall in the state of Texas, while San Antonio ranks fifth in the state and 29th in the nation. Economic factors such as low taxes, less regulation, and strong growth promote business development, housing development is driven by low taxes, availability, and affordability of Texas homes. One needs look no further than areas like “Sonterrey” in San Antonio to see the economic, social, and cultural impact of foreign investment.
image courtesy of R Childress