In a first, a new research just released by the Austin Board of Realtors found that people of indian ancestry made up the biggest percentage of foreign homebuyers in Central Texas. According to the 2022 Central texas international Homebuyers Report, foreign buyers primarily came from mexico (10%), china (6%) and canada (4%) with india accounting for the greatest number of international homebuyers (21%) overall. According to the survey, Central texas offers indian purchasers an affordable alternative to pricey cities like New York and San Francisco.
According to the Greater Austin Asian Chamber of Commerce, people of indian descent made up 41% of the 165,000 Asian Americans living in greater Austin as of 2019, an increase from 30% in 2010. According to Hem Ramachandran, an Austin realtor with 20 years of experience, the number of indian homebuyers is "exploding" and is being driven by the expansion of the city's tech sector. indians make up the majority of Ramachandran's clientele, and they tend to favour south or east facing residences in accordance with vastu shastra, which he refers to as the indian equivalent of feng shui.
India accounted for 53% of all purchases in Williamson County, followed by 24% in Travis County, which is located inside Austin, 18% outside the city, and 6% in Hays County. From april 2021 to march 2022, foreign purchasers spent $613 million, or 3% of the total value of residential transactions, on properties in the greater Austin area. According to the survey, "the majority of foreign buyers from india employ US mortgage finance (82%) while only 12% of transactions are made entirely with cash." indian buyers also prioritise detached single-family homes (94%) and residential land (6%), respectively.
Apartments, condos, and single-family houses are just a few of the housing options available in Central Texas. According to the survey, 35% of the properties are used as rental property, while 59% of indian buyers were buying a personal dwelling. international homebuyers includes non-US citizens who are in the country on a work or student visa, a green card, or both. According to the survey, more than half of the foreign buyers are legal permanent residents of the US since they possess a US green card.
According to the Greater Austin Asian Chamber of Commerce, people of indian descent made up 41% of the 165,000 Asian Americans living in greater Austin as of 2019, an increase from 30% in 2010. According to Hem Ramachandran, an Austin realtor with 20 years of experience, the number of indian homebuyers is "exploding" and is being driven by the expansion of the city's tech sector. indians make up the majority of Ramachandran's clientele, and they tend to favour south or east facing residences in accordance with vastu shastra, which he refers to as the indian equivalent of feng shui.
India accounted for 53% of all purchases in Williamson County, followed by 24% in Travis County, which is located inside Austin, 18% outside the city, and 6% in Hays County. From april 2021 to march 2022, foreign purchasers spent $613 million, or 3% of the total value of residential transactions, on properties in the greater Austin area. According to the survey, "the majority of foreign buyers from india employ US mortgage finance (82%) while only 12% of transactions are made entirely with cash." indian buyers also prioritise detached single-family homes (94%) and residential land (6%), respectively.
Apartments, condos, and single-family houses are just a few of the housing options available in Central Texas. According to the survey, 35% of the properties are used as rental property, while 59% of indian buyers were buying a personal dwelling. international homebuyers includes non-US citizens who are in the country on a work or student visa, a green card, or both. According to the survey, more than half of the foreign buyers are legal permanent residents of the US since they possess a US green card.
