Business Data For Engaging in International Real Estate Transactions in Idaho. National Association of REALTORS Research Division

Transcription

1 Business Data For Engaging in International Real Estate Transactions in National Association of REALTORS Research Division November 2016

2 Table of Contents Introduction 1 Table 1. Population by Place of Birth 2 Table 2. Foreign-born Population 2 Table 3. Language Spoken at Home 3 Table 4. Median Age (years) 4 Table 5. Educational Attainment 4 Table 6. Home Ownership and Median Income 5 Table 7. Persons Obtaining Permanent Residence Status 6 Table 8. Non-Immigrant Admissions 7 Table 9. Non-Immigrant (I-94) Admission Classs 7 Table 10. Immigration by Origination Region and Country 8 Table 11. Employment of Multinational Companies 9 Table 12. Top 25 Export Destinations 10 Table 13. Top 25 Import Origins 11

3 Billions Introduction In its 2016 National Association of REALTORS Profile of International Activity in Residential Real Estate, NAR estimated that foreign buyers purchased $102.6 billion of residential property from April 2015 March 2016 which is 7 percent of the $1.2 trillion of total existing home sales during the same period. Foreign buyers who reside outside of the United States (Type A) accounted for 41 percent of the dollar volume, while foreign buyers who are recent immigrants (less than two years) or who are temporarily residing in the United States for business, work, education, or vacation purposes (Type B) accounted for an even larger fraction, 59 percent. 120 Dollar Volume of Foreign Buyer Residential Property Purchases Non-resident (Type A) Resident (Type B) Note: Based on transactions in the 12 months ending March of each year. The continued expansion of trade and investment among countries and the accompanying mobility and migration of people opens greater opportunities for transacting with international clients. Cultural affinity, foreign language capabilities, and an awareness of business trends are important in cultivating relationships with international clients and bringing the transaction to a successful conclusion. This Report provides state-level business and economic data that can be used to enhance the knowledge and expertise of those seeking to conduct and assist international real estate transactions with non- residents and recent immigrants to the United States. NAR s Commercial & Global Services department has the expertise to address specific questions related to international transactions as well as the ability to direct specific questions to other NAR resources. For more data and information, REALTORS are encouraged to visit NAR s global pages at and the NAR Research webpage at

4 Business Data for Engaging in International Real Estate Transactions in Table 1. Population By Place of Birth in 2015 Total Population, by Place of Birth 1,654, ,418,821 Native /1 1,560, ,128,449 Foreign-Born /2 94,364 43,290,372 Naturalized 35,909 20,697,103 Not a Citizen 58,455 22,593,269 Percent, Foreign-Born 6% 13% /1 The The Census Bureau uses the terms native and native born to refer to anyone born in the, Puerto Rico, a Island Area, or abroad of a citizen parent or parents. /2 The Census Bureau uses the term foreign born to refer to anyone who is not a citizen at birth, naturalized citizens, lawful permanent residents (immigrants) present in the, temporary migrants such as foreign students), humanitarian migrants (such as refugees and asylees), and persons illegally present in the United States. Source: Census Bureau, ACS 2015, 1-year estimates, Table DP02 Table 2. Foreign-Born Population in 2015 Total Foreign-born Population, Excl. Born at Sea 94,364 43,289,646 Born in Europe 14,719 4,789,662 Born in Asia 18,782 13,249,179 Born in Afria 2,647 2,062,257 Born in Oceania 1, ,663 Born in Latin America 52,690 22,111,409 Born in Northern America 4, ,476 Source: Census Bureau, ACS 2015, 1-year estimates, Table DP02 Foreign-Born Population in 2015 Born in Europe 15.6% 11.1% Born in Asia 19.9% Born in Afria 2.8% 4.8% Born in Oceania 1.2% 0.6% Born in Latin America Born in Northern America 4.7% 1.9% Source: Census Bureau, ACS 2015, 1-year estimates 30.6% 55.8% 51.1% National Association of REALTORS 2

5 Business Data for Engaging in International Real Estate Transactions in Table 3. Language Spoken at Home in 2015 Population, 5 years and over 1,543, ,625,014 Speak English Only 1,384, ,908,935 Speak Language Other Than English 158,088 64,716,079 Spanish 117,236 40,045,795 Other Indo-European 18,145 11,137,271 Asian 14,038 10,501,131 Other Languages 8,669 3,031,882 As percent of Population, 5 years and over: Speak English Only 89.8% 78.5% Speak Language Other Than English 10.2% 21.5% Speak Spanish Other Than English 7.6% 13.3% Speak Other Indo-European Other Than English 1.2% 3.7% Speak Asian Other than English 0.9% 3.5% Speak Other Languages Other Than English 0.6% 1.0% Source: Census Bureau, ACS 2015, 1-year estimates, Table DP02 Language Spoken at Home in 2015 Speak English Only Spanish Other Indo-European Asian Other Languages 7.6% 13.3% 1.2% 3.7% 0.9% 3.5% 0.6% 1.0% 89.8% 78.5% Source: Census Bureau, ACS 2015, 1 year estimates. National Association of REALTORS 3

6 Business Data for Engaging in International Real Estate Transactions in Table 4. Median Age (years) in Median Age Total Population Native Foreign-Born Naturalized Not a Citizen Source: Census Bureau, ACS , 5-year estimates, Table S0501 Table 5. Educational Attainment in Percent With Bachelor's Degree Total Population, 25 years and over Native Foreign-Born Naturalized Not a Citizen Percent With Graduate or Professional Degree Total Population, 25 years and over Native Foreign-Born Naturalized Not a Citizen #N/A - Data not available Source: Census Bureau, ACS , 5-year estimates, Table S0501 Percent with Bachelor's Degree By Citizenship Status in Total Population Native Foreign-Born Naturalized Not a Citizen National Association of REALTORS 4

7 Business Data for Engaging in International Real Estate Transactions in Table 6. Home Ownership and Median Household Income in Home Ownership Rate Median HH Income (in %) (in $) Total ,334 Native ,250 Foreign Born ,668 Naturalized ,972 Not a Citizen ,928 Total ,482 Native ,224 Foreign Born ,221 Naturalized ,993 Not a Citizen ,064 #N/A - Data not available Source: Census Bureau, ACS , 5-year estimates, Table S0501 Home Ownership Rates By Citizenship Status in Total Native Foreign Born Naturalized Not a Citizen National Association of REALTORS 5

8 Business Data for Engaging in International Real Estate Transactions in Table 7. Persons Obtaining Permanent Residence Status ,768 1,122, ,377 1,266, ,044 1,052, ,766 1,107,126 4, ,120 1,130, ,556 1,042,625 2, ,602 1,062, ,428 1,031, , , ,202 1,016,518 Source of data: Department of Homeland Security Yearbook of Immigration Statistics, 2014,Table 4. Admitted Immigrants, Table 8. Non-immigrant Admissions ,433 32,003, ,975 33,667, ,401 37,149, ,089 39,381, ,919 36,231, ,337 46,471, ,121 46,471, ,330 53,887, ,208 61,052, ,825 74,930,606 Source of data: Department of Homeland Security Yearbook of Immigration Statistics, 2014,Table 30. Admitted Non-Immigrants, ,000 40,000 20,000 0 National Association of REALTORS 6

9 Business Data for Engaging in International Real Estate Transactions in Table 9. Non-immigrant admissions (I-94 only) Business Traveler,Visa waiver /1 12,345 13,823 14,180 15,293 14,730 Business Traveler, Other /2 8,825 10,602 10,771 15,186 16,093 Students and exchange visitors/3 3,783 4,376 4,803 5,401 6,327 Temporary workers and families/4 4,385 4,566 4,889 4,592 4,904 Diplomats/other representatives/ All other classes Unknown ,337 34,121 35,330 41,208 42,825 46,471,516 46,471,516 53,887,286 61,052,260 74,930,606 1 Includes GB, GMB, GT, GMT, WB, and WT admissions. 2 Includes B1, B2 and a limited number of Border Crossing Card (BCC) admissions. 3 Includes principals, spouses, and children (F,J,M admissions). 4 Includes principals, spouses, and children (CW1, E, H,I,L,O, P,Q, R, TD and TN admissions). 5 Includes principals, spouses, and children (A, G, Nadmissions). Notes: Admissions represent counts of events, i.e., arrivals, not unique individuals. The majority of short-term admissions from Canada and Mexico are excluded. Source: Department of Homeland Security, Yearbook of Immigration Statistics, 2014,Table 30. Non-immigrant Admissions in % 5.0% 10.0%15.0%20.0%25.0%30.0%35.0%40.0% Business Traveler,Visa waiver /1 Business Traveler, Other /2 Students and exchange visitors/3 Temporary workers and families/4 Diplomats/other representatives/5 All other classes Unknown 1.2% 0.6% 0.0% 11.5% 14.8% 34.4% 37.6% National Association of REALTORS 7

10 Number of immigrants Business Data for Engaging in International Real Estate Transactions in Table 10. Immigration by Origination Region and Country in 2014 REGION Total 2,202 Africa 330 Asia 827 Europe 154 North America 775 Oceania 18 South America 90 Unknown 8 COUNTRY Total 2,202 Mexico 663 Iraq 119 China, People's Republic 105 Burma 96 Congo, Democratic Republic 83 Philippines 82 Bhutan 67 India 66 Afghanistan 50 Ethiopia 47 Canada 42 Thailand 39 Nepal 38 Vietnam 34 Peru 30 Russia 29 Eritrea 27 United Kingdom 24 Colombia 23 Korea, South 23 Somalia 20 Brazil 18 Malaysia 17 Nigeria 17 Romania 17 Zimbabwe 17 D-Data withheld to limit disclosure Source: Department of Homeland Security Yearbook of Immigration Statistics, 2014,Supplemental Table 1. Africa Asia Europe North America Oceania South America Unknown Immigration by Origination Region in % 0% 4% 7% 15% Top Countries of Origin in 2014 Number of Immigrants % 38% National Association of REALTORS 8

11 Business Data for Engaging in International Real Estate Transactions in Table 11. Employment of Majority-Owned Affiliates of Foreign Multinational Companies Operating in Total Employed (thousands) 16 Employment of Majority-Owned Affiliates Including Banks in 2014, in thousands* * Value of 0 in the chart indicates that the data was suppressed. Source: Bureau of Economic Analysis, Foreign Direct Investment in the (FDIUS), Majority-Owned Affiliates Table on Employment by State and Country, National Association of REALTORS 9

12 Business Data for Engaging in International Real Estate Transactions in Table 12. Top 25 Export Destinations of the State Based on 2015 Dollar Value (in Millions) Country 2012 Dollar Volume 2015 Dollar Volume 2012 Share 2015 Share World 6,120 4,296 Top 25 5,900 4, Canada 1, China Taiwan Singapore Japan Mexico Korea, South United Kingdom Malaysia Hong Kong Netherlands Philippines Australia Brazil France Germany Indonesia India Thailand Spain Chile Israel Peru New Zealand Denmark Source: Census Bureau, State Trade Data by Country National Association of REALTORS 10

13 Business Data for Engaging in International Real Estate Transactions in Table 13. Top 25 Import Origins of the State Based on 2015 Dollar Value (in Millions) Country 2012 Dollar Volume 2015 Dollar Volume 2012 Share 2015 Share World 5,148 5,166 Top 25 5,025 5, China 702 1, Canada Taiwan Singapore 1, Japan Korea, South Mexico Germany France Malaysia Greece Vietnam Israel New Zealand Netherlands United Kingdom Italy Austria Thailand Australia India Chile Indonesia Denmark Hong Kong Source: Census Bureau, State Trade Data by Country National Association of REALTORS 11