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Internationale
A PUBLICATION OF INTERNATIONAL REAL ESTATE FROM BETTER HOMES AND GARDENS REAL ESTATE | GARY GREENE
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Houston continues to grow in prominence in the global market space. With the expanded Port of Houston and home to the largest medical center in the world, the opportunities in Houston seem endless. We trust you will find this issue of Internationale insightful as we explore global opportunities on your behalf. IN THIS ISSUE WE EXPLORE: • The surge of Chinese investors in Texas real estate; • What the FIRPTA Tax rate increase means to you and your buyers; • How the Panama Canal expansion benefits Houston economically; & • The positive influence Houston’s foreign-born healthcare workers have on our community. Please contact me with ideas on articles or topics you would like us to explore at oscar.gonzales@garygreene.com. Oscar Gonzales, MBA, PhD - International Division Director
M A R C H
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Internationale
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A PUBLICATION OF INTERNATIONAL REAL ESTATE FROM BETTER HOMES AND GARDENS REAL ESTATE | GARY GREENE
In this Issue: Wealthy Chinese Buying More Texas Land FIRPTA Rate Increase: What it Means to You and Your Buyer Panama Canal Expansion Update The Positive Influence of Houston’s Foreign-Born Healthcare Workers
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Wealthy Chinese Buying More Texas Land Chinese investors are
showing a surging interest in Texas real estate. Statewide, Chinese purchases of Texas land have more than doubled since 2013, as the Chinese government loosens restrictions on investment abroad and Chinese money pours into foreign markets.
Click on the image to learn more
FIRPTA Rate Increase: What it Means to You and Your Buyer
When selling a U.S. property,
foreign investors are required to withhold 10% of the purchase price and remit it to the Internal Revenue Service (IRS) at the time of closing, unless certain exceptions are met. With the new increase, the rate jumps to 15% for some transactions. Click on the image to see what the FIRPTA changes mean to you and your buyer.
Panama Canal Expansion Update In the next 5 years,
the Port of Houston will invest $1 billion to keep pace with the Panama Canal expansion slated to open in April 2016. The Port expansion will move Houston from number 10 to the number 7 position in total imports and exports with Asia and Europe and generate 150,000 jobs in the metro area.
Click on the image to learn more about the Port of Houston
FACTOID: Houston’s Foreign-born Healthcare Workers A significant part of Houston’s growing diversity in areas such
as Fort Bend County is a result of foreign-born healthcare workers immigrating or moving to the area. These high-skill immigrants with English proficiencies are having a positive effect on the areas of Houston in which they live by: a) raising the median average income thereby mobilizing more resources to the area; and b) b) raising the average property values to the area which has a tremendous impact on school funding and hence the quality of education in the area (Source: Forbes).
Texas Medical Center