For the Spring 2010 issue of Luxury Properties magazine
Mainland Chinese are buying in the U.S, just not in the numbers predicted – in large part because financing obstacles remain and buyers believe prices have not yet bottomed out.
Last year, a real estate tour by the Chinese website SouFun stimulated an international media frenzy when forty potential buyers from China toured property at foreclosure prices in major U.S. cities. But it didn’t energize sales as U.S. participants had hoped – according to them, no deals were closed.
Chinese are buying, just not in the numbers predicted – in large part because financing obstacles remain and buyers believe prices have not yet bottomed out.
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