Chinese buyers spent $28.6billion on US residential property up until March 2015, more than any other overseas nation, according to the Profile of International Home Buying Activity. With 16% of volume, they overtook Canadians in topping the sales total, the survey shows.
A recent study from the Asia Society and a property consulting group, suggested that Chinese investors were set to embark on a big US shopping spree for real estate, CNBC reported.
A leading Central Florida real estate agent and developer reiterates the findings, with around half its foreign property sales coming from the Chinese.
That includes current sales of the company’s newest development, the luxury lakeside project, Balmoral at Waters Edge, around 20-minutes South of WaltDisneyWorld, Orlando.
Company Chief Executive Officer, Garrett Kenny, is currently in China attending the 2016 AREAA China North America Real Estate Summit real estate summit in Xi’an, Chengdu, Changzhu.
The event, held from 15-25 June is jointly hosted by two real estate associations representively in China and America. The trip features so-called 'second tier cities', although such cities in China are in most cases bigger than those in Europe.
Garrett Kenny says, “The summit is important as it provides the opportunity to meet with business leaders and government officials about how to expand economic opportunities in these regions and, of course, how to maximise real estate investment in the United States.
“Chengdu, around two hours from Singapore is a dynamic city two hours outside Shanghai that is the innovation center for green building developments and fits in perfectly with the conference theme highlighting the cities that are reshaping the Chinese economy and creating significant new wealth and business opportunities for real estate professionals.
“We have seen strong interest here by Chinese property buyers in Feltrim’s Central Florida investment opportunities for those looking for capital growth, buy-to-let rental options and holiday homes at Balmoral at Waters Edge, to take advantage of Orlando’s rapidly growing tourism industry.”
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