International investment in U.S. real estate could soar to new heights in 2015, thanks to the reciprocal U.S./China visa agreement that will issue five-year, multiple-entry visas to business travelers and tourists. The policy changes went into effect Nov. 12.
Among other effects, the new visa agreement mitigates challenges for those investing in property abroad- namely, real estate purchased by Chinese parents for children studying in the U.S. For students participating in four0year degree programs, the five-year extension presents a welcome change.
Barring outside factors, we expect a 15 percent increase in Chinese investment in 2015. According to the NAR 2013 Profile of International Home Buying Activity, China and Canada have been the fastest growing sources of international transactions, with many opting for all-cash purchases.
Mainland Chinese buyers have the highest average price range and pay in cash about 70 percent of the time with the median property purchase price of $425,00 – well above the overall U.S. median of $199,500. Top areas for real estate investment include New York City, Los Angeles, Philadelphia, Detroit and Houston. For more information about buying or selling your home, contact Global Point Relocation Solutions at (562) 221-0055
-excerpt taken from RISMedia
Published on 2014-11-24 13:01:29
