Investors Scooping Up Huge Bargains in China
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If you have a bundle of cash or access to credit, take a look at the commercial real estate market in China. The combination of a real estate slowdown and a tightening credit in China have left many huge projects dead in the water.
Investors like Vincent Lo have been buying properties for yaun on the dollar. A great example of this is the Ruiqi Building, a high end 925,000 square foot office and apartment complex was purchased for 60 million dollars almost guaranteeing Lo a profit when it is completed.
So if you have the money and like to gamble, China’s commercial real estate market may have some deals for you.
Since China’s real-estate market began to slow late last year, Mr. Lo and a growing number of foreign funds and cash-rich domestic developers are finding opportunities all around. Many are coming at the expense of China’s estimated 50,000 small developers, which borrowed heavily last year to purchase land. Now, many are folding or seeking aid as the overall market sputters and some cities in China’s southern provinces see outright slumps.
In part, the slowdown is the result of Beijing’s efforts to rein in torrid growth, a development that has made lenders stingier. Property brokerage DTZ estimates that bank loans to the industry will fall by about 25% this year to 880 billion yuan compared with last year. via WSJ.com
It probably is a really good time to buy real estate - monthly payments are about equal to market rents ...
The part about the inventory is right on but in my area they are mostly low end and beat up ...
I worked for this man, he is a great con man and has done this in more than States then ...
You're right. If you come from Central Jersey (as the Boss and I do), you go to Florida at some ...
Maybe it was kryptonite...
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By Mike ...
I couldn't agree more.
The newspaper has always "stuck" it to the real estate agent with rates that were much higher ...
By the way, homeowners trying to get short sale approval should be aware that lenders are comparing the initial loan ...
Ouch! Thankfully I haven't come across anything like that yet. We normally don't have situations like that in ...
well, the guy was here illegally.
serves him right. 
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