Posted: 23 Jan 2014 07:46 AM PST
Chinese real estate investors are scouring the globe looking for real estate deals to protect their nest eggs according to an article at the Wall Street Journal. With the risk of credit issues in China, prudent investors are looking for safe places to park their money overseas, and quality real estate seems to be a favorite.
The majority of the purchases are office buildings. A notable example of this is the purchase of the Chase Manhattan Plaza for 275 million by Fosun International in October of 2013. The Greenland Holding Group, a state owned conglomerate, bought 70% of the Atlantic Yards Project in Brooklyn, NY.
International investments have been a big driver of the real estate recovery and it looks like this will continue into the coming year. The United States’ economy is still struggling, but it is a very attractive and safe market for investors looking for a safe place to buy and hold real estate.
This is a good thing.
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