Chinese buyers moving beyond “gateway” cities

2015-12-03
US

Chinese investors have been spending a lot in properties in coastal cities such as New York, Los Angeles and San Francisco, but now they are moving beyong gateway cities. Lelegu USA, a subsidiary of Beijing-based Zhang Long, is building Long Lake, a new development with 99 mini-mansions in Corinth, 35 miles northwest of Dallas, which represents the new trend. Chinese buyers make up one out of fourteen US home sales pricing above 1 million USD, and pay an average of three times the average price paid by American buyers. Internation commercial properties are also drawing more attraction from Chinese buyers. The investment spree by Chinese people are driven by the rapid growth in US real estate market, flight to safety due to the frequently changing regulations and instable economy in China, children studying in the US, etc. The full article could be read here.

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