On March 29th 2014, East West Property Advisors participated in the EIC Overseas Education conference in Shanghai, China. The event was open to anyone interested in studying abroad. Over 500 Chinese families attended the exhibition to meet with representatives from North American, European, Asian, and Australian universities in order to learn about studying abroad. Our team members from East West Property Advisors in Shanghai were present to help parents and students to explore the possibility of owning a home while they studied in the USA.
Our team members met with parents and students who were in different phases of the study abroad application process. We met families who were just starting the application process to enter US colleges in 2015 as well as students who had been accepted already. For example, we had a long discussion with Mr. Yu who is a father and investor. He not only plans to go abroad in order to complete a PHD in linguistics himself, but also is interested in sending his son to the USA to study arts. We even met a couple trying to get a jump start for the newborn they were eagerly expecting.
As the USA continues to have many of the top ranked schools and universities, it remains one of the top choices of many Chinese families looking to send a student abroad. Many Chinese parents plan to buy a home for their children as they study abroad. One mother of two wanted to learn more about American elementary schools for her daughter. She was interested in buying a home in order to accompany her daughter throughout the school year. Another father was interested in purchasing an apartment near his son’s university so that he could visit him conveniently throughout the year.
Most of the students and families we spoke with at the conference saw the benefits of owning a home. In order to rent an off-campus apartment during their four years in university, students can expect to spend up to 50,000 USD. Likewise if the student chooses to live in the on campus option, they can expect to overpay and many cannot remain over the summer break. Due to a major decrease in US real estate prices in 2009, and only a gradual increase since then, property prices in the USA remain low. This creates a good opportunity for anyone to buy a home. In most cities prices are expected to grow at least 5% per year making these purchases not only convenient, but also a suitable long-term investment. Even if the student decides to move back after their schooling, parents will be able to sell the home most likely with appreciation. As such, the parents recover the full amount and likely make a good return. In case the parents do not decide to sell, a local agent will help them find new tenant to rent the home and the Chinese parent can collect rent.
East-West Property Advisors, with offices in Shanghai and Hong Kong, provides a one-stop service and tailored advice to assist Asian property buyers who are planning to purchase US real estate for investment, for a home when attending American universities or for immigration. EWPA is committed to help potential buyers search, view, find and negotiate the best properties across the USA. For more information, please visit www.USARealEstateOnline.com or call +86 (021) 6157 4948