Wealthy real-estate buyers from overseas are expected to descend on the nation’s luxury housing markets Monday, giving a second boost to demand for high-priced apartments and mansions.

The U.S. will lift the travel ban on about 33 countries for vaccinated visitors, easing restrictions that prevented most foreign real-estate buyers from entering the country to view and buy properties.

Buyers from Europe, China, Brazil, and India will now be able to enter the U.S. for the first time in 20 months. Brokers in cities popular with the overseas wealthy — New York, Miami, Los Angeles — say they have a long list of showings scheduled in the coming weeks from buyers who have been anxious to invest in U.S. property.

A pedestrian stands in front of a Manhattan condominium building in New York.

Mark Abramson | Bloomberg | Getty Images

“This represents another upside in demand that just didn’t exist over the last two years,” said Jonathan Miller,…

Read more…


Comments are closed.