Land grabbing: rich Chinese are tear America real estate

 

Chinese buying has increased by more than 70% to $22 billion - nearly 1/4 dollars of all foreign purchases, according to the National Association of Realtors.

Canadians are indeed no. 1 in terms of total purchased homes, but the Chinese buy much more expensive houses: an average price of $ 591,000.

The Chinese also bring big money to the table: more than three quarters of their purchases buy cash.

California is the largest market for the Chinese, representing one-third of their purchases.

The State of Washington, however, is quickly coming, or 9% of purchases. It is followed by New York, Pennsylvania and Texas.

Related: Top 10 cities for Chinese buyers

Why do they buy? Only 39% of Chinese buyers said that they intend to use their purchases as their principal residence.

Some may buy condos for their children of U.S. colleges dealing with. They hope that, in addition to save on dorm costs, they can benefit from the price appreciation House where students graduate.

Others become owners, buying homes at low prices in economic pockets distressed as Detroit and landlords.

Others still use the homes as vacation properties a couple of weeks a year and rented the rest of the time.

In addition to the tide of Chinese and Canadian buyers of the Mexico, the India and the United Kingdom completed a list of five albums. The India also had a notable jump in money - growth of 48%.

Related: Buy vs. rent - what you'll pay in the 10 largest cities

Related: Promising cities for wealthy real estate investors

First published: 8 juillet 2014: 10: 11 et

Land grabbing: rich Chinese are tear America real estate

 

Chinese buying has increased by more than 70% to $22 billion - nearly 1/4 dollars of all foreign purchases, according to the National Association of Realtors.

Canadians are indeed no. 1 in terms of total purchased homes, but the Chinese buy much more expensive houses: an average price of $ 591,000.

The Chinese also bring big money to the table: more than three quarters of their purchases buy cash.

California is the largest market for the Chinese, representing one-third of their purchases.

The State of Washington, however, is quickly coming, or 9% of purchases. It is followed by New York, Pennsylvania and Texas.

Related: Top 10 cities for Chinese buyers

Why do they buy? Only 39% of Chinese buyers said that they intend to use their purchases as their principal residence.

Some may buy condos for their children of U.S. colleges dealing with. They hope that, in addition to save on dorm costs, they can benefit from the price appreciation House where students graduate.

Others become owners, buying homes at low prices in economic pockets distressed as Detroit and landlords.

Others still use the homes as vacation properties a couple of weeks a year and rented the rest of the time.

In addition to the tide of Chinese and Canadian buyers of the Mexico, the India and the United Kingdom completed a list of five albums. The India also had a notable jump in money - growth of 48%.

Related: Buy vs. rent - what you'll pay in the 10 largest cities

Related: Promising cities for wealthy real estate investors

First published: 8 juillet 2014: 10: 11 et

Officials Chinese shun projector in the middle of the graft probes

text is null
Parameter name: text

Here's The Difference Between Wealthy US And Chinese Home Buyers

AppId is over the quota
AppId is over the quota

China’s wealthy real estate buyers are snapping up property a lot more often than their American counterparts, according to a new report from Sotheby’s International Realty, which breaks down profiles of wealthy real estate buyers around the globe.

According to the report, 96% of affluent Chinese consumers have purchased a property within the past three years. In comparison, just 54% of affluent American consumers — those who have over $2 million in assets — have bought a property.

Chinese real estate investors also rate location as a top priority, favoring Asia over both Europe and North America for their mansions. 48% want their home to be eco-friendly.

For American real estate investors, location is also still a top priority. They prefer to live in North America, and value a property that they have designed themselves over an estate that is eco-friendly, historically significant, or with famous former owners.

The annual Sotheby’s International Realty Luxury Lifestyle Report was compiled with data from a survey sent out to its affluent consumers over 25 years of age all over the world between January 28 and February 18, 2014. They also collected data from sothebysrealty.com from Google Website Analytics between January 1, 2013 and January 1, 2014. You can read more about the methodology here.