There’s a reason everyone is moving to Austin. With a resilient and diverse economy, high quality of life, and entrepreneurial culture, Central Texas has become the go-to destination for significant technology hubs and innovative thinkers. These include major technology players like Tesla, Amazon, Apple, and more.
According to the 2021 AFIRE survey, Austin was listed as one of the top three cities in the U.S. for planned investment and is the first tertiary city that has ever been placed in the top three in its 30 years history. Austin’s ranking at the top of the list in 2021 shows a significant shift in strategy towards secondary and tertiary markets. Austin topped the list alongside Boston, Massachusetts, and Dallas, Texas. For these reasons, the Austin Board of REALTORS® (ABoR) has partnered for the second year in a row with the National Association of REALTORS® (NAR) to conduct a survey of ABoR members to bring you essential data on international homebuying practices in the Central Texas region.
What we found will help us better understand the real estate market that we call home and serve our growing global community of agents and our members, their clients, and our community as our dynamic market continues to evolve in the worldwide marketplace.
When using the new dynamic and interactive Central Texas International Homebuyers Report the visualization will provide ease of use, efficient understanding, create actionable insights, and will be sharable and downloadable in seconds.
CENTRAL TEXAS IS A GLOBAL DESTINATION
International companies such as Dell Technologies, Whole Foods Market, and Vrbo are just some of the Austin-based companies with global operations. Also, tech giants such as Tesla, Amazon, and Apple are increasingly choosing Central Texas to build their next campus. But we’re not just known for innovation; we know how to have fun, too. Widely known as the “Live Music Capital of the World,” Austin has gained global recognition for its many festivals and attractions, including South by Southwest, Austin City Limits Music Festival, and Formula 1.
Texas has led the nation in exports for nearly two decades. In 2020, Texas shipped $279.3 billion dollars worth of goods, according to the U.S. Department of Commerce’s Bureau of Economic Analysis. The state outperformed all other states, with the value of its exports accounting for 19.5% of overall U.S. exported products for 2020. Texas’ 2020 exports amounted to more than the sum total of goods exported by the next three largest exporting states. Mexico and Canada received the largest portion of Texas’ exports, with Mexico accounting for almost 32% of the total and Canada for just over 8.3%. However, goods from the Lone Star State are exported all over the world.
Our leading trading partners are South Korea, Taiwan, Mexico, Japan, China, and Malaysia in the Austin area. Texas is a top global destination for foreign direct investment (FDI), with 32 foreign trade zones and more than 1,500 foreign corporations with ongoing operations in the state—making our population one of the most diverse in the country. Texas attracts more FDI than any other state in the nation. Texas ranked as the #1 FDI Project State for 2020, according to Site Selection Magazine.
WHO IS AN INTERNATIONAL CLIENT?
- Foreign buyers living abroad
- First-generation Americans
- Americans Buying Abroad
- Clients with International Connections
- Investment buyers
In This Study
In this study, the term international or foreign client refers to three types of non-U.S. citizens:
Type A: non-U.S. citizens who primarily reside outside the U.S. and who don't stay in the U.S. year-round.
Type B: non-U.S. citizens who reside in the U.S. on non-immigrant visas (e.g., diplomats, foreign students, foreign workers) or recent immigrants (green card holders) who have been in the U.S. for less than two years as of the time of the transaction.
Not Type A or Type B: Non-U.S. citizens who are immigrants (green card holders) who have been in the U.S. for more than two years as of the time of your transaction.
National Association of REALTORS®
The National Association of REALTORS® (NAR) is America’s largest trade association, representing more than 1.5 million members—including NAR’s institutes, societies, and councils—involved in all aspects of the real estate industry. NAR's membership includes brokers, salespeople, property managers, appraisers, counselors, and others engaged in both residential and commercial real estate.
National Association of REALTORS® Research Group
The Mission of the NATIONAL ASSOCIATION OF REALTORS® Research Group is to produce timely, data-driven market analysis and authoritative business intelligence to serve members, and inform consumers, policymakers, and the media in a professional and accessible manner.
To find out about other products from NAR’s Research Group, visit www.nar.realtor/research-and-statistics.
National Association of REALTORS®
500 New Jersey Avenue, NW
Washington, DC 20001
+1 (202) 383-1000
Austin Board of REALTORS®
ABoR has supported Central Texas real estate professionals since 1926. We provide Central Texas REALTORS® with the tools they need to succeed and place clients in homes they love. During its nine decades of serving the Live Music and Breakfast Taco Capital of the World, ABoR has cemented its place as an Austin institution and a vocal proponent of the policies and business practices that have made this such a great region of Texas.
ABoR is dedicated to providing its members with unparalleled member benefits that speak to every aspect of your real estate business. In a fast-paced profession, you can rely on ABoR to provide a foundation for your success.
ABoR Global is among the fastest-growing global real estate programs in the country, delivering award-winning programming, education, and tools that position REALTORS® better to serve international buyers, sellers, and investors. The heart of our program is our Global Business Alliance network, a community of REALTOR® members who are passionate about the global real estate market domestically and beyond.
The ABoR Global Business Alliance (GBA) provides insights and resources for real estate agents and brokers to build an international real estate business. Unique data, programming, and networking enable our members and their clients to easily navigate the global real estate market and grow their business more efficiently. ABoR GBA is our member's primary resource for working with inbound international clients or building global outbound referral revenue. Please take a moment to see what the ABoR Global Advisors and ABoR Global Ambassadors' "big rocks" goals (Global Handbook page 15-17) are for our continued success as we think globally and act locally.
FOR MORE INFORMATION
This study was conducted by the National Association of REALTORS® for the Austin Board of REALTORS®.
Lawrence Yun, PhD, Chief Economist and Senior Vice President of Research
Gay Cororaton, Senior Economist and Director of Housing and Commercial Research
Brandon Hardin, Research Economist
Nadia Evangelou, Senior Economist and Director of Forecasting
Austin Board of REALTORS®
Emily Chenevert, Chief Executive Officer
Christine G. Wren, Global Liaison, Special Programs Lead
4800 Spicewood Springs Road
Austin, Texas 78759
+1 (512) 454-7636
©2021 Austin Board of REALTORS® and the National Association of REALTORS®. This Report may be cited with the proper attribution: Central Texas International Homebuyers Report of the Austin Board of REALTORS®.