With pandemic numbers rising again from some sources; it’s shaken investors and pushed 30-year mortgage rates lower again this week, though adjustable rates moved a little higher.MCLEAN, Va.
Is the Trade War Making Chinese Buyers Skittish ☘ Hoey Team ☘ eXp Realty
Dated: June 27 2019
As a trade war continues on, recent data is showing Chinese home buyers are investing less in U.S. real estate. The Chinese have been among the U.S.’s most popular international buyer over the last few years. But U.S. homes sales to Chinese consumers dropped 4% from 2017 to 2018, according to new data released from Juwai.com, China’s largest foreign property sales site.
“The worsening trade relationship between China and the U.S. may cause Chinese investors to shift their presence into other key markets,” Knight Frank, a property consulting firm, wrote in a new report. Knight Frank’s 2019 Wealth Report said that Chinese buyers are increasingly being lured to other areas like Australia, Japan, and the United Kingdom.
International buying of U.S. properties appears to be down overall. Foreign spending on U.S. homes dropped by 25% in 2018, according to Juwai.com.
“Chinese buyer inquiries for U.S. property were down in four out of the five last quarters,” Carrie Law, CEO of Juwai.com, told CNBC. In the first quarter of 2019, Chinese inquiries on U.S. properties fell 27.5% from a year prior, she told CNBC.
Beyond the trade war dispute, Chinese prospects may have other reasons to be leery. Both China and the U.S. have issued travel warnings to its residents about the other. The U.S. Department of State issued a travel warning on China, and then China responded this month by issuing its own safety warning that Chinese citizens and companies in the U.S. “raise awareness, strengthen preventative measures, and respond properly” when traveling and doing business in the U.S.
Regardless of the rising tensions, housing analysts believe Chinese investment in American homes will remain attractive to many oversea investors.
“[The] Chinese will always be substantial buyers of U.S. property and even now are probably still the largest foreign buyer group in the country,” Law told CNBC. “The thing that makes the buyer most nervous is uncertainty. If the trade war simply becomes the new normal, or if it is resolved on good terms, you will likely see an increase in Chinese buying in the U.S. There is still tremendous demand for the U.S. property. It is still the most liquid and appealing market in the world.”
Article from NAR Realtor magazine
Also; please check out the other blogs, and tabs to many other different Links, Updates & Reports that we have here on our informational website. ☘
"We hope that you find the information useful. If you have any questions, please do not hesitate to contact Kim or Barry with the Hoey Team, email us at Barry@SWFLLuxury.Com or KimZuponcic@Gmail.com or Call/Text the Hoey Team at: (239)-360-5527
Please Share this Page with anyone who you think the info will help. Feel free to refer any family or friends; it is the greatest compliment that you can give to us; we really appreciate referrals, and we will help in any way we can. Most of our business is referrals by word of mouth from past Sellers and Buyers who we have helped; please ask for and check out our testimonials. Thanks, Barry & Kim"
"Your Real Estate Concierge" If you are looking for a REALTOR® or one-stop Real Estate Team who will fully communicate; promptly, professionally, and in detail with you, to efficiently help you wit....
Latest Blog Posts
Hello,Barry & Kim with the Hoey Team 🍀 239RealEstateDeals.Com LLC ☘ hope that you and yours are doing good; wherever you are located.Hot off the press please find
Florida Realtors chief economist Dr Brad O'Connor: More homes are being listed than you think. Despite record-low inventory levels, the reason for current buyer frustrations isn’t
Welcome to the Luxury Market Report for June 2021, your guide to luxury real estate market data and trends for North AmericaProduced monthly by The Institute for Luxury Home Marketing, this report