The US auctions market has now opened its doors to foreign buyers, particularly the Chinese with two top real estate firms establishing a partnership to this end. The market for real estate has expanded and is flourishing again. The initial offering for property auction in the US will be focusing on commercial property such as office buildings, apartments and retail property. The mix of properties will also go on to include homes eventually. Property investments in the US by Chinese investors are on the rise and it is particularly noted to have increased in Manhattan where buyers look for both profit and security of their investments.
Chinese buyers will have access to exclusive listings on commercial properties through this new venture. This is aimed at bridging the gap in language and also distance which is a common concern for foreign investors. Property auctions conducted online are certainly attracting a lot of foreign investment by offering secure, reliable and sought after properties for auction in prime localities to interested parties. Cross-border transactions of course have their own separate line of legalities to be followed which are handled by the auction houses inviting the international bidders. There is ample information available from the top names in the auction business about cross-border realty investment regulations.
The strategy in place with such international property auctions is to invite bigger and better investors, providing a boost to the real estate market. A number of big names in the business like Juwai.com have a huge clientele of wealthy Chinese speaking investors located across China, Singapore, Hong Kong and also the US. Numerous other partnerships with Juwai.com are being discussed in order to bring in more properties into the auction for interested buyers. Buyers are also interested in luxury homes, hotels and other establishments which are in demand in many of the prime locations in the US. Many of the buyers are from established business backgrounds and investors undergo thorough checks and must produce necessary paperwork before registering and being found eligible. In terms of commercial real estate investment in 2014, China ranks only second to the leading market player, which is Canada. Over $48 billion has been invested by foreign players in property auctions and other sales, in the category of commercial real estate in 2014 and the demand remains high.