Dolly Lenz: Half of my clients are Chinese

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.

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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]