Chinese Buyers Jump into the US Housing Band Wagon

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With an ever increasing Chinese economy in the global market and opening of restrictions imposed by the Chinese government, there is a surge in the number of Chinese buyers who are investing in US Housing. It is not all fancy upscale New York apartments, but places even farther off such as the mid-Atlantic. Chinese buyers are more interested in real estate locations that offer access to quality education for their children that ranges from primary schools to university levels.

This rush of Chinese buyers into US housing market has even led a few firms in the US to work together with Chinese counterparts. One such case is the deal made between Long & Foster, a real estate firm from Virginia and Juwai, a real estate firm based in China. Pandra Richie, president of Long & Foster is highly positive that the US housing market has various sectors to satisfy the demands of different categories of Chinese buyers. This is one trend that is slated to see a further increase in the coming months.

Tiny Doesn’t Equate with Less – Reducing the Size of Condos

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As more and more of the millennial generation join the workforce, real estate agents are working hard to tap into this segment of customers who are used to living on rent. Studies prove that the younger segments of the workforce are reluctant to get into life-long mortgages, as they are still wary of the housing breakdown of 2006. This has made real estate agents reduce the size of the average condos in an attempt to get this niche of customers to buy apartments.

Recent trends all over the country show that condos in high-rise urban areas are getting smaller and smaller. These tiny apartments cost roughly half that of the average condo but provide the same amenities and facilities. These condos are specially preferred by young professionals who like to remain within walk able distance from the place of their work. Tiny condos as small as 300 square feet are in high demand among young professionals who are looking forward to invest in their first homes. Realtors are looking to further explore this trend of tiny condos.

Top Line -Business News English- 15th April

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