Illinois is well positioned to reap the benefits of interest in real estate from European and Russian investors, a representative of the National Association of REALTORS® told more than 100 real estate professionals.
Bruno Crosby, NAR’s manager for international market development, told those attending the Third Annual Multicultural Summit held at the Butterfield Country Club in Oak Brook, Ill., that the state enjoys three key attributes, not the least of which is affordability. Crosby said a weak dollar creates greater purchasing power for overseas clients.
The event was sponsored by the Illinois Association of REALTORS®.
Ease of access is also important to international investors. Having one of the largest airports in the world in Chicago is a powerful lure.
And finally, the business climate is good.
“This is a country, compared to most other countries, where rental investment is reliable and solid with good returns on investment,” Crosby said. “In most countries that’s not true.”