subject: Chinese Investors Seek Out Investment Property Vultures In Order To Satisfy Their Appetite For Buying [print this page] Chinese Investors Seek Out Investment Property Vultures In Order To Satisfy Their Appetite For Buying
Investors from China are not hesitant to enter the U.S. real estate market. These investors see the U.S. as a location offering great value compared to what they would be able to purchase in their home country.
Wealthy Chinese property investors are purchasing real estate sight unseen in the US as their appetite for buying increases.
One major company who organizes real estate purchase sight unseen is Investment Property Vultures. Mainly they offer foreclosures and distressed properties but also, government owned properties. Investors anywhere in Asia including China, Hong Kong, and Singapore can contact them via their website www.investmentpropertvultures.com or email them at info@investmentpropertyvultures.com.
SouFun Holdings said it expects to organize 10 tours this year for wealthy property investors. "There are more than 500 people interested in traveling with the SouFun team to look at property in the US," said Vincent Mo, chairman of SouFun holdings.
One Chinese investor who has purchased with Investment Property Vultures said that it was falling prices that attracted him. "The real estate prices in America have gone down drastically. It's a good option for Chinese people who want to buy for investment," said Susan Wang, a partner in a law firm who is interested in buying in Florida.
Not all investors are serious property investors. Some want a high return on their investment via rentals. Others want a son or daughter to obtain a US education and think that buying property will help them to get a place at an American University.
The real estate slump has made property in major US cities seem cheaper than in China's larger cities. "If you take a brand new apartment in a first tier city, like Beijing, Shanghai or Guangzhou, you can buy a lot more for your money in the US," said Anna Kalifa, a vice president of business development at GTC China.
Luo Jie, a Chinese investor, confirmed that price is the main consideration. "You can buy a much better property in America for $100,000 or $150,000 than you can buy here," Jie said.
And there is little doubt that there are more wealthy Chinese than ever before. According to a report by the Boston Consulting Group China has the world's fifth largest number of millionaires. There were 391,000 in 2008, an increase of 20 percent from the previous year.
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