Jul
26
End of an Era as China’s Love Affair With U.S. Real Estate Fades
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Sales to Chinese buyers fell for the first time since 2011
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Capital controls, currency depreciation seen among drags
For David Wong, the business of selling homes isn’t as good this year as it was in 2015, and he’s blaming that on a decline in customers from China.
“The residential-property market here, especially for those priced between $2.5 million to $3 million, has been affected by China’s measures to control capital flight,” said the New York City-based Keller Williams Realty Landmark broker. “You need to cut the price, or it may take a real long time.”…
End of an Era as China’s Love Affair With U.S. Real Estate Fades
