Are foreign investors returning to Chicago?

Has anyone who pays attention to such things noticed a resurgence of foreign investment since last fall? According to the New York Times‘ “Raising the Roof” blog, “Italians, Spaniards, Scandinavians, and inhabitants of London, who are typically not English, but rather from the Middle East, and Far East” represent 40 percent of the buyers Corcoran Group agent Patricia Cliff has worked with over the past six months.

Today’s overseas buyer wants “a place to park money” and tends not to show an interest in new-construction homes, Cliff tells the Times. She attributes the return of European investors to “more negotiability” in the marketplace.

Any of you agents out there fielding more calls from overseas these days?

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3. Searches for Chicago real estate near 5-year low