Sedona AZ Homes for Sale attracts International Buyers
The Sedona AZ Homes for Sale Market has had it's share of international buyers. With the majority of that business coming from Canada and Europe. However, quite recently I have had clients as far away as China into to Sedona to "buy" in Sedona. Something that I find very interesting. It is a known fact that the United States real estate offers a lot of bang for your buck, according to a new survey that shows U.S. homes are the cheapest relative to incomes among English-speaking nations. Australian homes — which have a median price of $454,000 — were found to be the most unaffordable among English-speaking nations, according to the report by consulting firm Demographia, which examined affordability in the third quarter of 2010. The median home in Australia costs 6.1 times the gross annual median household income. What’s more, 85 percent of the homes in Australia’s major cities were more than 5.1 times average income, according to the survey. On the other hand, U.S. homes have a median home price of $168,000 and homes cost only three times yearly income or less
The priciest city for real estate? You guessed it - Hong Kong, with homes costing 11.4 times income. (The report considers any markets where home prices are 5.1 times household income or more very unaffordable.) Prices in Hong Kong have increased by more than 50 percent in the past two years, due to low interest rates, an expanding economy, and buyers flooding in from China.
I think that we will be seeing more and more international buyer's - including the Chinese buy in this beautiful place. As an investment, Sedona AZ Homes for Sale offers affordability, clean living, safe living and is relatively close to an international airport - Phoenix. And remember that Sedona is surrounded by National Forest. So once it is built out - that's it. And remember what goes down will eventually go up! And that includes the prices on Sedona AZ Homes. With the dollar remaining relatively week it's a great time for any international to buy in this wonderful place.