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Chinese Purchases of U.S. Real Estate Forecasted to Reach $32 Billion During 2014

2014-11-28  Source:Jinlist.com
The slowing of the Chinese economy and government restrictions on ownership of second and third homes in China, together with the recent events in Hong Kong, are causing affluent Chinese to look more closely to U.S. commercial and residential properties as safe havens for their investments. It is for these reasons that the amount of Chinese purchases of U.S. commercial and residential properties continue to grow at a record pace.

For the 12 months ending March 2013, Chinese purchases of U.S. real estate totaled $12.8 Billion, an increase of 22%. For the 12 months ending March 2014, Chinese purchases totaled $22.0 Billion, an increase of 72%.

A recent Jones Lang LaSalle report indicates that for 2014 Chinese commercial purchases could grow to as much as $10.0 Billion, up from $3.1 Billion in 2013. With the purchase of the Waldorf Astoria by China Anbang Insurance Group for $1.95 Billion this number seems very much in reach.

According to the National Association of Realtors (NAR), the top states for residential Chinese buyers are California, Washington State, New York, Texas, Pennsylvania and Florida. For the 12 months ending March 2013, 55% of all sales were in California, but dropped to 35% for 12 months ending March 2014, showing that Chinese buyers are branching out and buying up real estate in states all across the country.

These trends show no signs of abating and the influx of Chinese capital into the U.S. real estate will only accelerate in the future. Based on these facts, Karen Yan, Executive Vice President of JinList.com, says that JinList is forecasting that Chinese purchases of U.S. residential properties will reach $32.0 Billion for the 12 months ending March 2015.

Karen Yan further comments that the key to real estate brokers profiting from these Chinese buyers is to get their listings marketed across China before they land in the U.S. 63 million Chinese have the assets to purchase U.S. properties and 2.8 million are considered high net worth individuals.

Karen Yan points out that JinList’s licensing agreements with Jinti.com provides JinList and its members unparalleled access to the Chinese consumers who are seeking to purchase U.S. real estate.

JinList helps real estate professionals gain access to affluent Chinese seeking to purchase U.S. real estate in 363 cities across China and in over 200 cities in the U.S. JinList.com is owned and operated by JRE, Inc., a U.S. digital technology company headquartered in Great Neck, NY.

The 2015 statistic is forecast by JinList Economics Department, Oct. 2014.

This is an original publication by JinList.com. Although citation with full acknowledgement may be allowed, no copy or republication is permitted without written consent by JinList.com.

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