US Market bridging the gap to tap into foreign buyers-hard money hardmoney loans private loans funding lending

US Market bridging the gap to tap into foreign buyers

In New York, Chinese investors are second only to wealthy Dominicans in purchasing homes. In various Southern California communities there has been reported an upward trend in Chinese buyers purchasing homes. The majority of those are not local Chinese buyers, but those coming from China. There has even sprung up an unique buyer service that reimburses homebuyers’ international airfares in compensation for their purchase. According to Realtor.org, the Chinese in California are the third-largest foreign buyers of real estate, after Mexicans and Filipinos. And according to the National Association of Realtors, Chinese buyers accounted for 18 percent of the $68.2 billion that foreigners spent on residential properties in the US during the 12 months ending March 31.

It’s not news that Chinese real estate developers and property buyers are flooding into the United States real estate and property markets. The increasing interest from the Chinese in US real estate is creating new business opportunities. Chinese shoppers are cash buyers and buy more expensive homes than other foreign buyers, spending a median price of $425,000, almost double the median of what other foreign buyers pay.

“We are living in a global marketplace and real estate is a very collaborative business where connections are everything especially foreign connections, says Jason Chen, chairman of Shenzhen World Union Properties Consultancy Co Ltd. World Union Properties Consultancy Co Ltd, is a listed company that provides real estate consulting services in China.

“At Globenet Realty, foreign investors are welcome and the placement of foreign money. Bilingual associates help every step of the way and make investors feel comfortable. Globenet Realty team up with local agents nationwide to serve the growing number of Chinese buyers and are constantly looking to gain more business contacts to keep up with the growing trend.

World Union employs nearly 15,000 people across China who broker all kinds of properties. World Union tenders a market share of 3 percent, and has sold some 300,000 apartments across China last year.

This is seen as a prosperous aim to profit and an urgent need to find partners to help bridge the gap in the US real estate market. By taking the agents in China, educating them with providing updated real estate information in Mandarin, this will develop relationships between the local and Chinese agents to work together.

In late June, China’s largest residential developer China Vanke Co Ltd broke ground on a joint venture to build 655 luxury condominiums on the San Francisco waterfront. World Union and Globenet hope to make more property investments possible through this developing partnership program.

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