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US Developers Marketing Property to Mainland Chinese

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Posted: 25 Apr 2009 | 3:51 pm

A Beijing property exhibition has attracted 76 US property developers looking to move product despite the economic downturn and severely depressed domestic housing market. With more then 7000 prospective clients, over 500 of them signed reservations for units. The Chinese buyers said their primary motivation was for investment and also possible migration to the US at some later date.

One attractive aspect of the market is that financing in many cases is still available for international buyers. Unlike Thailand where limited leveraging is available and foreign ownership of units restricted to freehold condos or leasehold units. As more markets start to turn their eyes abroad to attract property players, the playing field is becoming more and more crowded and competitive. It remains unknown how the present Thai government is going to react to continued depression of the real estate sector but given declining domestic demand, the country needs to recognize the importance of foreign investment.

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Well this is a natural development of where is the money. I would expect Chinese, S.Koreans, Japanese and any Asian with disposable income to look towards the US, especially California, NYC, and Florida.
First, when the market turns around and it will if one reads any publication or at least Business Week of June 29, 2009 a McGraw-Hill publication one will see the housing market boom on the horizon for 2012, which is a short duration, since we are mid-way through 2009.
Second, the ability for foreigners to leaverage is something of significance.
Third,looking at property in NYC, California and Florida it is not merely a vacation property it has the ability to be a primary residence where one could move abroad.
So when one does think about it of course Chinese with high disposable income will over Phuket invest in the US.

James Fielding, 30 Jun 2009 | 7:55 pm

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