Chinese buyers grow savvier about US real estate

Investors increasingly look beyond New York

TRD MIAMI /
Jan.January 03, 2017 12:00 PM
From the New York website: As Chinese real estate investors become more familiar with the U.S. market, they are starting to look beyond New York City and Los Angeles.

“Many more Chinese today have worked, studied or travelled to other countries than was the case five years ago,” Charles Pitter, the CEO of real estate portal Juwai.com, told the South China Morning Post.

Over the past year, 30 percent of all Chinese inquiries to invest in the U.S. were for cities other than New York, Los Angeles and San Francisco, according to consultancy East-West Property Advisors. Meanwhile, Seattle replaced San Francisco as the third most viewed market on Juwai.com last year. Houston and Las Vegas complete the top five.

“Chinese buyer interest in non-traditional destinations is one sign of their growing comfort with overseas markets. It reveals a group of more sophisticated investors who are willing to look at opportunities further afield if they offer good investment fundamentals, better entry prices or less tangible benefits like lifestyle advantages,” Pitter added.

David Ji, of brokerage Knight Frank, told the paper that Chinese investors are no longer buying “blindly” thanks to the increasing amount of information available to them.

Chinese buyers have emerged as a force in the New York condo market over the past three years. In November, Bloomberg reported that Chinese investment in overseas real estate hit record levels in 2016.  [SCMP] – Konrad Putzier


Related Articles

arrow_forward_ios
Daily Digest Miami

Gil Dezer, Related complete Residences by Armani/Casa, hedge funder, wife drop $105M for Palm Beach estate

44 EB-5 investors sue PNC Bank over Palm House Hotel losses

44 EB-5 investors sue PNC Bank over Palm House Hotel losses

Pawn shops in China will often lend up to 40 percent of the value of an apartment pledged as collateral (Stock photo, credit: Getty)

Chinese regulators crack down on real estate-backed loans from pawn shops

Bankruptcy judge approves sale of Palm House Hotel for $40M

Bankruptcy judge approves sale of Palm House Hotel for $40M

What happens when an EB-5 project fails?

What happens when an EB-5 project fails?

Chinese investors sue Nick Mastroianni over alleged EB-5 fraud

Chinese investors sue Nick Mastroianni over alleged EB-5 fraud

Related Companies affiliate bids $32M for embattled Palm House Hotel

Related Companies affiliate bids $32M for embattled Palm House Hotel

9200 Belvedere Road in Royal Palm Beach

EB-5 investors allege fraud in Royal Palm Beach office project

arrow_forward_ios
Loading...