With China’s economy facing tough times wealthy buyers are looking for safe havens for their money.
Financial leaders at the recent World Economic Forum at Davos voiced fears of a downturn in Chinese growth and many High Net Worth Individuals are looking at ways of finding secure ways to invest their money overseas.
With Chinese buyers now being the number one foreign investors in the United States property market, according to National Association of Realtors.
China has the highest volume of foreign buyers of US property at $28.6billion up from $22billion a year ago and representing 16% of the overall spend of a record $104billion, according to the latest Profile of International Home Buying Activity.
It’s no coincidence that leading Central Florida developer and agent, Feltrim Group, has registered an upturn in purchasers from China.
In fact, half of buyers of its new luxury lakeside development, Balmoral at Waters Edge, are from China – a similar proportion to those who invested in luxury three and four-bedroom Mediterranean-style townhomes at Feltrim’s US$29million Fountains at ChampionsGate development, which was officially opened in July 2015.
Feltrim Group Chief Executive Officer Garrett Kenny, says, “Many Chinese real estate investors are looking at buying Florida real estate to secure a safe haven for their money.
“Central Florida also has an excellent range of schools and this is another important factor for Chinese real estate buyers who want their children to have a top-class education.”
For international buyers who are looking to buy-to-let, Feltrim Group offers a complete in-house rental management service which handles all the arrangement needed to rent out their property on a short or long term basis and maintain it in tip-top condition.