Overseas Property News | Asian buyers salvaging US housing market | HomesGoFast.com
Chinese buyers are helping the American Property market to recover by snapping up luxury overseas property in the country. Bloomberg News reports that Florida, California, Hawaii and New York have seen an increase in house sales thanks to buyers from China.
Chinese buyers account for almost one in ten property purchases in Usa
An increase in the number of Chinese buyers purchasing luxury overseas property in the Usa has been attributed to increased regulation of the second home market in China as well as the education and investment opportunities offered by property in the Usa.
A survey by the National Association of Realtors has found that Chinese buyers accounted for 9 per cent of foreign home purchases in the years ending March 2010 and March 2011. That represents an increase from just 5 per cent in 2009.
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