As reported in the LA Times last month, a report released by global real estate firm, CB Richard Ellis stated that the Chinese will be spending billions of dollars on U. S. real estate within the next few years. Realtor.org reported China as being the top three foreign buyers in real estate.
The top three countries of choice for these Chinese buyers are the United States, Canada and Australia. Particular cities of choice where they are on quite the spending spree in the high-end market are New York, San Francisco and Los Angles.
According to the Chinese real estate website Juwai.com, in 2011, Chinese buyers bought over $10 billion of U.S. real estate and they account for 9% of foreign U.S. house buyers. These Chinese investors see real estate in the United Stats as a big bargain, due in part to the foreclosure crises.
The U.S. is not the only country that will be seeing the influx of Chinese buyers. Canada’s Toronto is seeing a big boom in their real estate market. CB Richard Ellis estimates these Chinese real estate investors will be spending around $178 billion in the next few years in both residential and commercial real estate.
In Malibu, CA, the high-end Los Angeles County beach community, the real estate market is also booming. Record deals are being made on both the beach and landside in Malibu. If you’re in the market for Malibu real estate, now is a great time to get your foot in the door. Prices have stabilized and there is some great Malibu homes for sale.
Contact 4 Malibu Real Estate Partners at 310.456.3655 for information on these Malibu homes for sale.