Global in the News:
The collapse of the price of oil, turmoil in the global economy, and ongoing upheaval in the Middle East are sending mixed signals for what lies ahead in for the U.S. economy, and by extension, the real estate market, even though the U.S. is one of the few countries to enjoy a genuinely optimistic outlook for 2015.
Chinese real estate investors and developers can’t get enough Bay Area real estate, particularly large developments projects in prime locations. That is according to Paul Hastings real estate partner David Hamsher.
With education on their minds and an eye for detail, increased numbers of buyers from China have been purchasing in the Orlando market, developers say. At Encore Club at Reunion, more than a third of the community’s 124 sales during the past 10 months have been to buyers from that country.
Hawaii is the 10th most popular state in the U.S. with Chinese investors, who rank Honolulu, Kailua, Kapolei, Lahaina and Kapalua as their top five destinations to buy real estate, according to a new report by Juwai.com, an international real estate website for Chinese buyers.
China Oceanwide Holdings Group Co. and its chairman, Lu Zhiqiang, have poured hundreds of millions of dollars into U.S. West Coast commercial and residential real estate in the past two years, far from the company’s traditional turf of projects in cities such as Beijing and Wuhan. The buying spree shows how, amid a wave of foreign money coming into U.S. commercial real estate, Chinese investors often top the list.