Becco Zou When Berkshire Hathaway HomeServices Northwest broker Becco Zou has a new client in town from China with a long shopping list, the Chinese-born agent tells them: "Show me the money." Usually they go away for awhile -- and then they come back. They are worth waiting for -- they might want a $3 million home, a commercial investment and a ranch where they can entertain clients. This may sound extreme, but they will often buy more than one property, said Zou. What are Chinese buyers doing right now? Based in Seattle's upmarket Bellevue, Zou said while she felt a slowdown in Chinese investor activity last year, the momentum is building again as they have successfully found loopholes around Chinese government restrictions on taking more than $50,000 out of the country. Zou estimates she did around $10 million in sales volume last year with this group, but she is already at the same amount for May. Of course, she is well-positioned because she is Chinese-born, worki...
- A new report on Chinese investment in U.S. real estate predicts a renewed surge of investment after 2020 and steady progress til then.
- Chinese investors put more than $93 billion in residential real estate between 2010 and 2015.
- Chinese buyers are finding a growing number of resources for mortgages in the U.S.
- In 2015, approximately half of Chinese buyers were current residents of the United States.
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