Written by: Howard Chang
Asian buyers are helping the USA market to recover by purchasing high- end luxury property in the United States. Bloomberg News reports that Boston, New York, California, and Hawaii have seen an increase in home sales due to the Asian buyer.
They understand that luxury homes in the US should provide an excellent return investment.
The purchase restrictions in China also drove them overseas to the United States as well as to Canada and England. They look for investments to counter the inflation.
“Some of them will buy homes considering better education opportunities for their children, especially in the Boston location with the great universities and college options available……………..”.
Andrew Waite, publisher of Personal Real Estate Investor Magazine told Bloomberg: “The majority of these buyers are not buying trophy properties, but cash flow as they understand fundamentals.
“They are buying investment turn-key rental properties that should provide positive cash flow. They understand that rental real estate offers one of the few inflation indexed assets available with inflation-indexed income.”
To target the Asian Buyer, a broker should be aware of utilizing price ranges that have “positive” or “special” meaning to the Asian buyer. Prices with “3”, ”6” or “8” should attract the Asian buyer.
Good luck selling!!