Bloomberg TV recently aired a segment that featured Chinese actress and Affinity China member Betty Ni browsing real estate in Manhattan. Betty is part of a growing wave of Chinese investors buying real estate in New York. Christine Lu, CEO of Affinity China, states in an interview that the prices of homes in New York City are in fact less expensive than those in comparable major Chinese cities like Shanghai, and for real estate shoppers, it makes more financial sense to purchase in the U.S. The segment also suggests that Chinese real estate shoppers believe in a possible gain in property value with the future improvement of the American economy.
The Bloomberg TV video presents yet another reason that Chinese are looking to New York City for property: many hope that owning real estate in the United States will be favorable for their children as they apply to American private schools and universities.