More and more people are interested in investing in real estate properties. In what could be seen as a sign of renewed faith on the housing industry, a recent survey suggested that interest in real estate as an investment has more than tripled in the past 12 months. The Move Homeownership survey indicated that 17.2% of potential home buyers today plan to purchase a house in the near future purely as an investment. The figure is more than triple the 5.6% rate recorded in March last year.

Some 46.5% of the survey respondents said that they plan to hold on to the properties for the long term (six or more years) while 16% plan to own the properties between two and five years. Around 10.6% expect to own the property between six months and two years. The survey also showed that some 12.3% of potential buyers will use all cash to purchase the properties while 12.8% plan to pay cash for 50% of the purchase price and finance the rest.

An interesting data uncovered by the survey indicated that more buyers are interested in purchasing foreclosure properties as an investment. While interest in foreclosures as primary residences has slumped 31.1% in the past five months to 26.5%, interest in purchasing a foreclosed property as an investment to rehab and resell rose 42% from 11.3% in October last year to 16% in March 2010.

The survey also showed that real estate remains a primary concern among most Americans, with 55.1% of the respondents admitting that they are now paying close attention to property prices today compared to a year ago. Errol Samuelson, Move’s chief revenue officer, said that the survey results indicate that homeownership remains a central and important issue among Americans.

“Real estate and housing today face many of the same challenges other major industries are experiencing as a result of our national economy,” Samuelson said. “Concerns around employment and their overall economic situation are causing many people to wait until the economy improves before they commit to one of the largest purchases they’ll most likely make in their lives. The findings of this newest survey make it clear the desire and motivation to be a homeowner remains strong, and as the economy continues to strengthen and improve, so will the housing market.”

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