Trump best for Chinese property buyers, say US real estate agents
Mainlanders spent US$5.1bn on US property in the first half of this year, a 21pc increase on the same period last year, according to Knight Frank
Donald Trump may be a controversial figure, but the real estate mogul is more likely to improve things for Chinese investors buying up property in the United States than his rival Hillary Clinton, according to American real estate agents.
A survey released on Monday by China’s top international real estate website Juwai shows US real estate agents and China-based investors can’t agree on which presidential candidate is more likely to put in place policies that help Chinese buying US property.
The US is the top destination for Chinese capital, with mainland Chinese spending US$5.1 billion in the first half of this year, a 21 per cent increase from the same period last year, according to Knight Frank research, so a reduction in investment could mean losing big bucks.
The survey found 55 per cent of US real estate agents believed Trump would implement policies that benefit Chinese investors if he won the November 8 election, while a similar proportion of Chinese investors (54 per cent) said Clinton would be more likely to help mainland property buyers.
Over 50 per cent of real estate agents thought Chinese investment would increase under Trump, while 40 per cent thought it would decrease, the October survey of 504 Chinese investors and 416 real estate agents and professionals in the US found.
About a third of real estate agents thought Chinese investment would increase under Clinton, while a similar proportion (34 per cent) thought it would decrease.