Industry NewsMarkets & Economy

ProsUSA exec sees growing demand from foreign buyers

China relaxing restrictions on overseas investments

Real estate agents and brokers take note: investment property will see rapid growth in 2012, especially from foreign buyers, according to Professionals Realty Group USA President Glenn Melton. Glenn MeltonMelton believes that the Chinese government's recent relaxation of restrictions on investing capital outside of the country "will create an influx of Chinese investment capital overseas."That will spur investment in the Asia Pacific regions, as well as the United States, Melton said in a statement, "Especially given the concern that central government intervention to contain overheated domestic housing prices will lead Chinese investors to seek other opportunities abroad."Melton also noted that U.S. Senators Charles Schumer and Mike Lee have introduced a bill aimed at increasing foreign investment in the U.S. that would offer a three-year residential visa for foreign nationals who invest at least $500,000 in residential real estate in the country. "The real ...