With Chinese President Xi Jinping visiting the United States recently, now is the ideal time to consider how strong the demand is from Chinese buyers for Central Florida real estate. The visit also coincides with Feltrim’s very successful recent trip to China where it exhibited at the Beijing International Property and Investment Expo. In October Feltrim also took its wares to Seoul, South Korea for the first time.
Feltrim Group Chief Executive Officer Garrett Kenny knows how important Chinese buyers are, as he has just returned from promoting Feltrim Group developments, including the new luxury lakeside project, Balmoral at Waters Edge, at the China Property Expo in Beijing.
“Given the concerns over the performance of their economy, the Chinese are showing a fresh urgency about investing in Central Florida real estate and the Feltrim Group stand at Beijing was very busy with buyers wanting to know more about Balmoral and our other projects. In total we took nine reservations on Balmoral in that one trip. And this week in Orlando we had four site visits from Chinese buyers and agents.”
Bearing in mind that Chinese buyers snapped up half of Feltrim’s Fountains at ChampionsGate townhouse development, which was officially opened this summer, the demand for the exclusive Balmoral at Waters Edge bespoke properties is set to be even higher.
President Xi Jinping visited the United States to have talks over how to introduce reforms and prevent growth slowing further in its economy, which is under pressure.
Garrett Kenny says a growing number of Chinese residents are looking to invest their money not in the domestic market but in the safe haven of the United States and Florida is a popular choice.
“Every year that goes by, more is being invested in the US real estate market by Chinese buyers and we have had a number of investors who have been so impressed with the build quality and return on investment potential of our properties that they have bought several at once.”
The Chinese are the leading foreign buyers of homes in the United States by volume (16%) after overtaking the Canadians on 14% in 2014/15 and also spend the most at $28.6billion up from $22billion a year ago, the latest National Association of Realtors data states.
Feltrim also exhibited in Seoul during October. “I was astounded at the appetite for US property and EB-5 investment in South Korea”, says Kenny. “I see huge potential for EB-5, which works out well for us as our group won approval recently for our new EB-5 Regional Center in Florida.
Balmoral itself is a new luxury resort located near Orlando in Central Florida. With 245 high-end custom homes from 3-5 bedrooms, set within a 113-acre gated, luxury resort, along with many tranquil parks, gardens, walkways and lakes, Balmoral at Water’s Edge has something for everyone.
Balmoral at Waters Edge includes a host of top-class leisure facilities, including a resort-style pool with luxury clubhouse, mini waterpark, lakeside beach, gym and spa, gourmet kitchen, restaurant and more.