- citybiz
Demand for US new construction is increasingly coming from beyond US borders, and the flow runs both ways, with American retirees looking abroad and international buyers looking in. For Builders Update, a national database for new construction, the first proving ground is Latin America.
Starting Where the Demand Is
The company began its international push in Latin America for a practical reason: proximity and familiarity. “There’s a lot more people going to Mexico from the US than they are going to Istanbul, so we’ve got to start somewhere,” says Bill Gaul, CEO of Builders Update and chair of the RESO Data Dictionary New Construction Subcommittee.
The early focus markets are Mexico, the Dominican Republic, Costa Rica, and Panama. That expansion is moving from plan to inventory. Builders Update has signed a contract with a Mexican developer to add roughly 300 properties and has secured listings in the Dominican Republic, with Costa Rica already onboard.
Gaul describes Mexico and the Dominican Republic as the two anchors, with other markets filling in around them.
Who Is Buying, and Why
Much of the cross-border interest is driven by demographics. As baby boomers reach retirement, many are weighing warmer climates and a lower cost of living, and empty-nesters in particular often reassess how much house they need once children have moved out.
“A lot of these baby boomers have had the three-bedroom, two-bath home raising kids, and now they’re all gone,” Gaul says. “They look at each other and go, do we really need this big house?” Beyond climate, buyers weigh cost of living, healthcare access, and, in some markets, tax treatment.
Gaul notes that the Dominican Republic offers property-tax relief for a period after purchase, and that many international markets now offer concierge healthcare options aimed at expatriate residents, though quality and cost vary widely.
How Buyers Finance It
“Retirees are buying overseas property using HELOCs, the equity that’s in their homes already,” he says. Financing an overseas purchase through a US bank is difficult, so buyers often rely on home equity or local lenders, where interest rates tend to run higher.
Connecting Local Inventory to Global Buyers
Builders Update takes listing data directly from builders, and as part of their patented technology, they time stamp and run quality-control checks before publishing, an approach intended to keep information current as it reaches a wider audience. Gaul’s recent appointment as ambassador for new construction with the GDX global MLS network is meant to extend that reach further, connecting US and international inventory under shared infrastructure.
The platform currently serves more than 860,000 agents and presents listings in nine languages and nine currencies. The international opportunity is still early, and its pace depends on builders and local partners in each market. But the direction, Gaul argues, is set: new construction is a product that travels, and the buyers are increasingly global.
About the Expert:
Bill Gaul is CEO of Builders Update and chair of the RESO Data Dictionary New Construction Subcommittee. Based in Austin, Texas, he specializes in new construction data and MLS interoperability.
