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Foreign Investors Give Boost to Atlanta Real Estate Market


Colin Brechbill - Monday, September 12, 2011

Foreign Investors Give Boost to Atlanta Real Estate Market: MyFoxATLANTA.com

ATLANTA - The hard-pressed Atlanta real estate market is getting a boost from foreign investors.

Strong foreign currencies are helping generate enthusiasm for Atlanta and other U.S. real estate markets.

Local companies are offering tours capitalize on that interest.

FOX 5’s Paul Yates joined 14 investors from Australia as they took a guided tour of available homes.

Georgia has been one of the leading states attracting foreign real estate investors. Now interest in residential properties is coming from individuals, not just investment companies.

Maribel Pegler and Patrick Wu were part of the group looking at homes in Clayton and DeKalb Counties.

“We’re looking for some cash return, certainly appreciation will be great, but in the meantime, we’re looking for cash return on the investment,” Wu said.

Real estate companies helping these foreign investors say the sales here improved local home values and provide jobs as properties are renovated and reoccupied.

“We’re taking homes that were sitting vacant, in need of renovation, not useful in the market right now, we’re turning them, providing clean homes for people to come,” said Lance Popp of WRI Capital Group, INC.

WRI Capital Group of Marietta says it is conducting two bus tours a month of metro Atlanta homes for investors from Australia and Israel and Europe.

The company says it is selling about 30 to 35 homes a month to those investors.

The properties generally range in price from about $50,000 to $80,000.

http://www.myfoxatlanta.com/dpp/news/local_news/Foreign-Investors-Give-Boost-to-Atlanta-Real-Estate-20110912-pm-pk

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