According to Financial Fuzz, “Mainland China residents who invest in US property are motivated by a few things; profit potential of underpriced markets, educational opportunities for their children, and international diversification of investments.”
In Detroit, with distressed houses that can be purchased for $10,000, the opportunity to profitably re-build that city holds strong appeal.
Financial Buzz tells MHProNews that the Chinese are investing in more places throughout the U.S. then many realize.
According to the National Association of Realtors, Chinese investors spent $8.2 billion on U.S. property in 2012, generating approximately $492 million in commission for U.S. real estate agents. Among the preferred destinations for Chinese capital are New York, Los Angeles, Detroit and San Diego.
As was previously covered in MHProNews, China based international industrialized home builder LandSea has targeted $1 billion over 5 years in new residential construction in the U.S..
Can such facts spell possible opportunities for domestic factory homebuilders? Will more American firms reach out to these Asian and other sources of capital to see what housing deals might be struck?
With the surge by Chinese investors in the U.S., experts are watching their next move. ##
(Photo Credit: Reuters)
