It’s rare to have one factor influence home sales nationally over a long period of time, but few trends have held as much sway over U.S. real estate — especially in the luxury home market— than foreign buyers. Initially, the draw was post-recession values in New York and California, especially compared to cities such as London. Since then, as the tide of foreign nationals coming to the United States has swelled, so too have the incentives that now include political and economic stability, the desire for hard assets, lifestyle and even prestige. And owning U.S. property has been known to be good cocktail conversation. New construction, in particular, is proving to be a good match for these...
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