Buyers from mainland China are increasing their U.S. investment activity, according to The New York Times. In Manhattan, luxury condominiums valued from $500,000 to $10 million or more are garnering the most interest. And while most of these new buyers are not interested in purchasing trophies, they are always focused on investment rationale, said Neil Palmer, chief executive of Christie’s International Real Estate.
The uptick in activity can be attributed, in part, to China’s newly relaxed banking regulations, which streamline the process for moving money out of the country. “Foreign exchange restrictions have not been entirely lifted but loosened,” Palmer said. “There is more ability to move funds offshore effectively and perfectly legally.” Approximately 50 percent to 75 percent of New York transactions involving Chinese investors are paid for in cash exclusively.
As inbound investment activity expands beyond the major metros, CCIM members can leverage Institute resources to capitalize on new opportunities. The Country Liaison Program was created to strengthen the CCIM Institute's presence outside North America and to provide a resource for North American CCIM members interested in doing business in the liaisons' host countries. Liaisons are currently assigned to China, Japan, Korea, Mexico, Norwa ...
Click here to read more
Posts
No comments:
Post a Comment