{"id":1253,"date":"2019-02-11T08:50:59","date_gmt":"2019-02-11T08:50:59","guid":{"rendered":"http:\/\/pgawards.wpengine.com\/?p=1253"},"modified":"2021-06-04T14:05:27","modified_gmt":"2021-06-04T07:05:27","slug":"why-san-francisco-continues-to-draw-chinese-home-buyers","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/why-san-francisco-continues-to-draw-chinese-home-buyers\/","title":{"rendered":"Why San Francisco continues to draw Chinese home buyers"},"content":{"rendered":"<p><strong>The Californian city now luring a different kind of Chinese home buyer<\/strong><\/p>\n<figure id=\"attachment_1254\" aria-describedby=\"caption-attachment-1254\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-1254\" src=\"http:\/\/pgawards.wpengine.com\/wp-content\/uploads\/2019\/02\/Why-San-Francisco-continues-to-draw-Chinese-home-buyers.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/02\/Why-San-Francisco-continues-to-draw-Chinese-home-buyers.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/02\/Why-San-Francisco-continues-to-draw-Chinese-home-buyers-300x200.jpg 300w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/02\/Why-San-Francisco-continues-to-draw-Chinese-home-buyers-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-1254\" class=\"wp-caption-text\">The Golden Gate Bridge in San Francisco, California. IM_photo\/Shutterstock<\/figcaption><\/figure>\n<p>The Chinese property seeker is\u00a0still enamoured with the San Francisco Bay Area property market, albeit\u00a0in lower pricing tiers, according to\u00a0<a href=\"http:\/\/www.xinhuanet.com\/english\/2019-02\/11\/c_137811405.htm\" target=\"_blank\" rel=\"noopener noreferrer\">Xinhua<\/a>.<\/p>\n<p>While\u00a0Chinese buyers have traditionally bought high-end homes in cash in the Californian city, these days they\u00a0are wont to\u00a0target\u00a0more affordable units, the state-run media\u00a0agency reports, citing stateside Chinese realtors.<\/p>\n<p>&#8220;Traditionally, wealthy people, such as corporate executives, come here to invest in expensive properties; these days we see more parents buying homes for their children who study or work here,&#8221; US-based realtor Bei Qin told Xinhua on Sunday.<\/p>\n<p>The emergence of middle-class Chinese property seekers is\u00a0consistent with National Association of Realtors (NAR) data\u00a0showing that the median price of a US home sold to a Chinese buyer stood at USD439,000 in 2018, down from USD530,000 in 2017.<\/p>\n<p>&#8220;In the past we had two out of 10 clients from China; now only one out of 20 is from China,&#8221; Qin\u00a0said.<\/p>\n<p>Still, the popularity of\u00a0Bay Area is not about to ebb dramatically\u00a0among Chinese home buyers, according to Kangni Yuan, regional sales manager of ACE Capital Group, a real estate firm in San Mateo County.<\/p>\n<p>&#8220;Several factors play a role, such as the economic growth in the state, the good weather, the convenient air transportation and the large concentration of Chinese communities,&#8221; she told Xinhua.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Californian city now luring a different kind of Chinese home 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