Chinese continue to snap up properties in US
Chinese investment in US real estate will grow "dramatically" in the coming years as Chinese investors continue to bring capital to a more stable property market, according to commercial real estate company CBRE Group.
"By New York standards, by US standards, these are huge, wealthy, capitalized companies, and they're all looking for a foothold in the US. So we think with the continued regulatory cooling off of the markets in China, we're going to see more and more of that capital come into the US," William Shanahan, vice-chairman of investment properties at CBRE, told China Daily.
Los Angeles-based CBRE is one of the largest commercial real estate service companies in the world, with more than 300 offices globally. The company had $223.2 billion in transactions in 2013, according to its website.
