Janie Lee, left, a residential specialist with John L. Scott Real Estate, shows a home for sale to her client, Hongbin Wei, center, of Beijing, China, Thursday, Dec. 18, 2014, in Medina, Wash., near Seattle, as homeowner Doug Ebstyne looks on at right. Real estate agents such as Lee are taking note of growing connections linking China and Washington state, which ranks second to California in real estate sales to Chinese buyers. (AP Photo/Ted S. Warren)
Chinese citizens are the top foreign buyers of homes in the U.S. As Beijing cracks down on money going abroad, will America’s real estate market feel the impact?
A sales assistant talks to visitors in front of models of apartments at a real estate exhibition in Shenyang, Liaoning province April 17, 2014. China’s real estate investment rose 16.8 percent in first three months of 2014 from a year earlier, and revenues from property sales dropped an annual 5.2 percent, the National Bureau of Statistics said on Wednesday. REUTERS/Stringer (CHINA – Tags: REAL ESTATE BUSINESS) CHINA OUT. NO COMMERCIAL OR EDITORIAL SALES IN CHINA – RTR3LM1B
One of the latestlistings in the Seattle-areareal estate market boasts a newly renovated home with seven bedrooms, heated floors, and a “spacious and tranquil” feel inside the quiet suburb of Sammamish. It’s asking price: $1,260,888. Another listing—this one in Bellevue, with much grander amenities like a built-in sauna and a private tennis court—is priced at a staggering $6,888,000.
