Often we in America take our freedoms for granted but when it comes to people in other countries, especially Communist China things are still radically quite different – and real estate investing is no different. The Mortgage Professionals of America recently reported that in 2014 alone, Chinese citizens spent an estimated $28 billion on homes in the United States. Obviously this incredible sum being spent on properties has not gone unnoticed by real estate brokers. Additionally, the MPA says that right after Canadian investors, Chinese nationals are among the largest investing populations in U.S. soil.
People feel like, from the Chinese end, that it is very attractive to own a piece of real estate in the United States, because not only you have a property, but you also own the right forever…..That is a major difference: in China, you purchase the property, you don’t own the land,” CapStar Commercial Realty president and CEO John Lin told CRI.
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