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Update Dallas | A central hub for market and real estate news affecting the Dallas region.

A central hub for market and real estate news affecting the Dallas region.



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The Robbie Report: As China Market Skyrockets, Dallas Region Beckons

May 22nd, 2013 | by The Update
Dans-Bois-Crete-Mansion-at-9806-Inwood-Road-in-Preston-Hollow-Briggs-Freeman-Sothebys-homes-for-sale-in-Dallas-exterior-2.jpg

Investors looking at the Dallas-Fort Worth region will find properties such as the Dans Bois Crete mansion at 9806 Inwood Road. Listed by Christy Berry.

A combination of skyrocketing real estate prices in China and a slowdown in that country’s economy has led wealthy Chinese to look overseas for dependable investments.

The solid economy in the Metroplex, combined with a stable and growing real estate market, has made the Dallas-Fort Region a strong attraction for wealthy Chinese investors.

“Dallas is at the forefront of a renewed interest in land of all types—commercial, investment, residential, ranch and more. In fact, we’re already seeing a resetting of prices due to the rising demand for lots and parcels of all sizes,” said Robbie Briggs, CEO of Briggs Freeman Sotheby’s International Realty. “Recently one of our agents to the west had a developer come in and buy up every remaining lot in a residential project, closing out the entire inventory in one transaction. We see that as a great indicator of the confidence developers have in the increasing value of Texas land.”

Indeed, according to a report by CNN Money, “China’s wealthiest citizens are looking to secure their riches and improve the quality of their lives. And many of them are looking to do it overseas.

“One in three wealthy Chinese have investments abroad, according to a new survey from China Merchants Bank and Bain & Company. That’s roughly double the number of high net worth individuals who reported making similar investments in 2011.

“Of those who have invested abroad, roughly 60 percent plan to increase their foreign holdings.

“The search for overseas returns comes as China seeks to retool the investment-driven economy that lifted tens of millions out of poverty and gave rise to a class of ultra-wealthy citizens.” Click here to read the full report by CNN Money.

“The central government has actually been trying to bring down overheated real estate prices and adjust the structure of the market since 2010, with varying degrees of success,” Jamil Anderlini of the Financial Times writes. “Officials did manage to halt the doubling and tripling of prices seen in some regional property markets in the wake of the global financial crisis but only after many cities imposed draconian bans on price rises or purchases of second homes.”

Briggs Freeman Sotheby’s International Realty is Dallas’ luxury real estate leader, with more than 190 agents in five offices located throughout the Metroplex and access to the global Sotheby’s network, including more than 11,000 agents in 600 offices worldwide. For more information on escapes and second homesranch and land, and luxury homes in the Dallas-Fort Worth region and beyond, go to briggsfreeman.com.

 

 

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