Dolly Lenz: Half of my clients are Chinese

June 22, 2012 11:00AM

Chinese buyers are injecting billions into our residential real estate market nationally, the Wall Street Journal reported. And in an effort to court Asian buyers — mostly from China, but also Hong Kong, Singapore and Korea — developers are employing Feng Shui and installing wok kitchens, which feature stronger exhaust fans than their western counterparts, the Journal said.

A Chinese couple paid $34.5 million for a Beverly Hills, Calif. mansion last month, shortly after a Hong Kong businessman paid around $28 million for a similar spread.

In New York, several of the units at One57, have gone into contract with Chinese buyers, sources told the Journal.

Dolly Lenz, a top broker at Prudential Douglas Elliman, estimates that half of her clients are Chinese currently, double the number from 2010. [WSJ]