Latest figures from the National Association of Realtors revealed that Chinese buyers now account for 12 percent of all foreign investors in American real estate.
And in his first public engagement since taking up office, Max Baucus, the U.S. Ambassador to China, highlighted the importance of agreeing a new investment treaty between the two economic powerhouses.
Addressing an audience of Beijing businesspeople, Baucus emphasised the importance of negotiating the Bilateral Investment Treaty in order to further open up investment between the U.S. and China. He said: "There’s a lot of work to do on the [treaty], but moving forward on that will be a top priority for me."
Not only has that interest been seen in China. Recently North Dakota Developments, on the back of strong interest from Singapore, opened its first office in the city-state.
The award-winning developer executive hotel studio accommodation for oil workers attracted to North Dakota’s Bakken oilfields by the state’s ongoing black gold rush. This combination of real estate and energy is highly attractive to Asian buyers.
Robert Gavin, Group Chief Executive Officer, explained: "The interest that our Great American Lodge sites have generated in the Chinese and Asian market has been phenomenal, so much so that we have opened a new office in Singapore. We will also be a key sponsor of the OPPLive China show in Beijing later this year.
Now based in offices on three continents, North Dakota Developments designs and builds high quality accommodation at an affordable price. It’s medium and long-term rental accommodation solutions include the sold-out Great American Lodge Montana and Great American Lodge Watford City, which produced initial rental yields of what are claimed to be up to 39.24 percent. Investment is currently available in Great American Lodge Watford East’s superior rooms, priced at US$54,950 from 1 July with yields of 28.5 percent.
Andrew Batt, International Group Editor at PropertyGuru Group, edited and wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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