International customers spent $800 million on local real estate between April 2019 and March 2020, according to a new report from the Austin Board of Realtors.
Foreign buyers—which include those living abroad, immigrants and first-generation Americans—accounted for 5% of all residential sales in the Austin metro during that period.
(Austin Board of Realtors Global)
ABoR attributed this market share to the areas's appeal as a global destination for businesses and individuals alike, noting that one in five Austinites is foreign born.
"The Central Texas region has become a magnet for homebuyers and real estate investors from around the globe," President Romeo Manzanilla said in a statement.
A plurality of foreign buyers—38%—came from Latin America, with 29% from Asia and Oceania and 12% from Europe.
(Austin Board of Realtors Global)
Certain trends emerged over the course of the survey period, such as the fact that all Indian buyers purchased detached single-family homes, 75% of Chinese buyers purchased in a suburban area and 83% of Australian buyers paid entirely in cash.
The median home price among foreign buyers was $381,030, which is $54,530 more than the metro's median home price during the survey period.
ABoR members reported an increase in international business. Of the survey respondents who have been in business for at least one year, 30% have seen an increase in international business compared to 20% nationally. Of those who have been in business for five years or more, 41% have, compared to 32% nationally.
This trend also mirrors itself.
More than half of respondents reported that they had U.S. clients seeking to purchase property abroad, primarily in Latin American countries such as Mexico, Costa Rica and Columbia.
The report also includes information on foreign clients who sold local property during the survey period. The top four countries of origin for foreign sellers were Mexico, India, China and Russia.
More on real estate:
- Elijah Wood's Victorian Austin home goes on the market - austonia ›
- What $10 million or more can get you in Austin luxury homes ... ›
- Austin housing market blasts off despite COVID, but rentals ›
- Austin luxury real estate market booms in pandemic - austonia ›
- Boomtown Austin has first series of 3D-printed homes in east - austonia ›
- How millennial homebuyers are influencing the Austin market - austonia ›
- Austin tops Texas as most expensive TX metro to buy a home - austonia ›
- Austin housing market cools down for the winter season - austonia ›
- Former Torchy's CEO lists Spanish Oaks home for $7.5 million - austonia ›
- Cord Shiflet named 2022 Austin Board of Realtors President - austonia ›
- Austin sees record-breaking real estate year in 2021 - austonia ›
- Terry Black's owners announce resort-vineyard concept - austonia ›
Now’s your chance to see a Spurs game without a trip to San Antonio.
The 2022-23 NBA schedule has been released and it includes the “I-35 Series,” with two games at The Moody Center April 6 and April 8. For the first game, the Spurs will be playing the Portland Trail Blazers and the next will be against the Minnesota Timberwolves.
Season ticket holders can secure their seats on Sept. 21 and all other tickets will go on sale Sept. 28.
It's here y'all! Our #Spurs50 anniversary season is set 🗓
MORE: https://t.co/1FJbFOmVpx pic.twitter.com/5Ic8gu1cx4
— San Antonio Spurs (@spurs) August 17, 2022
The Spurs already have a significant Austin presence both through their minor league affiliate, the G-League Austin Spurs, and its ownership, which announced Austin billionaire Michael Dell as a new “strategic partner" in June 2021. You'll also see a new logo on this season's jersey: Austin-based fin-tech company Self Financial.
During a May Bexar County commissioner's meeting, The San Antonio Spurs were approved in a 3-2 vote to move some of its games out of San Antonio and its current home stadium, the AT&T Center. The plan came as a way to boost revenue and cater to its far-reaching fan base.
By the 2023-2024 season, two games will be allowed within 100 miles of AT&T Center as part of the two-year "pilot program.” Bexar County Judge Nelson Wolff said those games could take place in the Alamodome or San Marcos but that Austin would likely be the top contender.
The multi-purpose stadium in San Antonio has a 65,000 capacity, which the team says could allow them to break an attendance record for an NBA regular season game.
While some have taken their coming Austin games as a sign of a future move for the Spurs, the team was quick to shut down those rumors.
The team, which is celebrating 50 years in San Antonio after relocating from Dallas, said it is not looking for an exit but made the plans for games in other cities after stumbling sales amid the pandemic.
While average home attendance plummeted to 27th among the 30 NBA teams this season, the team has a pricey non-relocation agreement through the 2031-2032 season and has recently embarked on a $500 million mixed-use facility in San Antonio's La Cantera area.
The Spurs will also have a game in Mexico City on Dec. 17 and a Jan. 13 game at the Alamodome. Tickets for those go on sale Sept. 10 and Sept. 1, respectively.
You’ve found your dream home. Now it’s time to design your space.
Let eggersmann make your dreams come true. Not only are their products custom-crafted to last a lifetime, but their team of professional designers, installers, and care specialists are there to assist you from the ideation to the implementation of your gorgeous and highly functional space.
A family-owned business, eggersmann offers modern design solutions for every room in your home and they’ve had a hand in the design of many of the most beautiful homes in Texas, including right here in ATX.
A downtown condo. A house on the lake. South Austin style. All are perfect for eggersmann’s design solutions.
If you’re not sure where to begin, eggersmann has plenty of inspiration to get you started.
Kitchens are living spaces that invite us to indulge our senses; places that help us bond and are the heart of the modern home.
Eggersmann’s modern German kitchens and home living solutions are distinguished not only by unique stone cabinet fronts and exotic veneers, but also technological feats in cabinetry composition and ergonomics like handleless cabinets and motion sliding countertops.
Their ideas spring from over 100 years of experience. Ever since Wilhelm Eggersmann founded this company in 1908, the now global team insists only the best will do and that every kitchen should be as individual as its owner.
Beyond the closet, eggersmann brings soul to your wardrobe.
Tailor made in every aspect, personalize your space to make dressing and attire a special occasion. With innovative design solutions like hidden safes, watch-winders, and other accessory storage that will make the organizationally-obsessed squeal with delight, eggersmann’s team of designers can help you to create a closet you’ll want to spend all day in.
Create modern, beautiful spaces that motivate you to play and socialize. Host the next grand celebration or relax and relieve the tensions of your day. Eggersmann’s entertainment solutions focus on how you live and how you entertain.
Need a TV for a family movie night but prefer something besides a black screen when you’re entertaining? Eggersmann’s remote-controlled lifting technology allows you to do just that. What about design solutions that keep a bustling household organized? Eggersmann makes it all possible.
Working with eggersmann
To learn more about the exceptional luxury cabinetry, exotic durable finishes, and innovative solutions, you may visit one of 6 eggersmann showrooms in the US, one of its retail locations in Canada, Mexico, or the US including Hawaii, or call to make an appointment with the satellite design service here in Austin where a knowledgeable representative will meet you at your home, office, or location of your choice.
The eggersmann team works directly with homeowners to bring their dream spaces into reality or with your interior designer, architect, or builder. They also have extensive experience working with high-rise/multi-unit developers or condo owners.Find the nearest eggersmann location.