September 26th, 2013
Foreign investors have long played a major part in the U.S. real estate market. Certain shifts in international economies have caused interest to vacillate at times, but because the housing market is performing so well right now, overseas buyers are flocking to the United States once again.
A large majority of the nation’s foreign buyers have always come from China. But according to The Wall Street Journal, while Chinese investors are still focusing their efforts on popular cities like New York and Los Angeles, they’re also starting to branch out into alternatives like Houston and Seattle. These other areas offer geographic diversity but also bigger lot sizes.
For example, Beijing real estate investment firm Grand China Fund recently purchased an 80 percent stake in a residential rental complex in Houston, the source reported. It also made an investment in a residential project in Atlanta in 2012. Overall, the company has spent about $50 million to boost these two projects, indicating it sees the United States as a worthwhile investment.
Indeed, the U.S. economy has been recovering very successfully this year, providing opportunities for sellers and buyers in addition to overseas investors.