Business Data for Engaging in international real estate transactions in Oregon

Global Presence

The exchange of goods and services across international borders has greatly increased,

with the growth in international transactions far exceeding growth in domestic

transactions in recent years. U.S. exports of goods and services increased 10.5 percent,

while imports from foreign countries rose 12.8 percent in 2005. Such increases are three

to four times higher than growth in the overall national economy. Due in part to the

significant rise in international business activity, the flow of people across borders has

increased, as well. At the same time, the demand for real estate - both residential and

commercial – has been on the rise. Fast-growing international trade leads to relocation

of foreigners in the United States, as well as U.S. businesses opening offices abroad. In

short, conditions are ripe for engaging in international property brokerages.

Consider the number of foreigners (non-immigrants) arriving in Oregon in 2004 by

category:

•

64,687 foreigners for vacation

•

1,294 traders and investors

•

6,263 foreign students

•

2,563 foreign workers due to intra-company transfers

•

518 foreign workers related to NAFTA

•

Obviously, many of these foreigners will need rental housing, second homes, or

commercial property in Oregon. A recent study of home purchases in Florida revealed

that 15 percent of all sales were made by foreigners - largely for vacation homes.

28,510 foreigners for other business1

Though Oregon may not witness such a high level of foreign transactions, there are still

enough foreigners arriving in the state to make an impact on overall real estate

transactions.

It is not only foreigners that will significantly impact international home buying. Many

U.S. residents will require a home abroad. Exports of products to Canada and South

Korea from Oregon increased 24 percent and 17 percent, respectively, in the past year.