In the Silicon Valley, a French mansion in the renting a vacation home chateau style sold for a surprising $100 million dollars, making in U.S. History with the distinction of having been the highest price on record for a single family home.

 

Two apartments in London, whose combined sell price of $222.5 million made the apartments among the most expensive within London's geographical landscape, were purchased by Rinat Aklmetov from Ukraine. 

Not to be outdone, a Princess hailing from the Gulf invested a hefty $96.9 million in home in Paris. The mansion featured a private chapel and garden on the left bank and a sanctuary within the grounds for the princess within the inner courtyard. 

 

It is becoming a common occurrence for the biggest players in residential real estate to hail from global locations. In Miami, according to one report, 65% of residential real estate buyers hold citizenship abroad. Miami Association of Realtors reported having sold almost 60% of their homes to residents of other countries within the last year. 

 

Miami is not alone, either. Manhattan's Fifth Avenue luxury condominiums boast a whopping 50% foreign residency. 

 

Foreign purchasers have comprised approximately 7% of home owners within the United States. Recently, those numbers have been on the rise. The National Association of Realtors have noticed this trend and reported it as 2010. Realtors reached 18% reporting residential property sold to an overseas purchaser, a dramatic increase from 2009, in which only 12% of the realtors reported selling to foreign purchasers. 

 

The global mix of foreign buyers has changed and diversified. More foreign buyers are being seen from Russia, Brazil, Venezuela and China. In fact, Brazil noted a 7.5% growth in real estate purchases over the past year. This accounts for many of Miami luxury residences during the last year. It is expected that the Miami area will continue to experience high growth in foreign sales.

 

The price range that is common to the Chinese consumer is stunning. Most homes purchased carry price tags of five million or more. Realtors such as Amy Williamson, Joyce Rey, and Tim Swannie —major names within real estate and specializing within their field—have enjoyed sales between $5 million and $125 million dollars from Chinese buyers. Clients from China are often shown homes via gallery settings in which the homes available are displayed as fine art. 

 

While many foreign buyers are shelling out millions for dream homes within this country, not all homes sold to foreign buyers are million dollar sales. A large portion of sales to foreign buyers fall into the median range of $220,000. 

 

In addition, it should be noted that Canadians are the largest percentage of foreign buyers, comprising 23% of buyers with international addresses. Many of these buyers choose areas like New York and Miami.

 

Real estate is moving into the future as communities gain global awareness. The diversity of the communities is the result of technology. Backyards no longer contain the entire world. Now, a buyer's backyard can be half a globe away. The driving force of the global community is the price tag on real estate. Miami attracts consumers from a global platform, giving it an exotic allure as buyers around the globe seek to find a home within its tropical setting.