We are proud to announce that we are opening our eighth office in Shanghai! Partners Trust China is registered as a company in Hong Kong with our physical office on the Bund in Shanghai. The focus of this office is wealth management, real estate sales, tax benefits, immigration, job creation and other issues facing Chinese nationals interested in investing in the U.S. market. Partners Trust will be taking an active role in property promotion in Beijing, Shanghai, and Guangzhou and is creating a robust website based in China which will display all Partners Trust real estate listings.
Having a Partners Trust office in China makes perfect sense with the growing trend of Chinese investors buying property in the US, with New York, Texas, Pennsylvania, Washington, Florida, and of course California being some of the most popular states. More specifically, these international investors seem to be most interested in areas like Los Angeles and Orange County. As of this coming March, it is predicted that Chinese investors will have spent about $32 billion on homes in the U.S.
Chinese investors view US real estate as a secure investment and taking advantage of their country’s recent economic growth and easier access to credit. And of course, thanks to the U.S. dollar’s depreciation against the Yuan, Chinese investors get more for their money than ever before.
While many Chinese buyers are mainly interested in investment properties that they can rent out, some are looking for a second home, since China has restrictions on how many properties its residents can own. About 40% of Chinese buyers are even in search of a primary residence, depending on whether they can immigrate to the U.S. Most of the real estate they buy is luxury housing, and about 75% pay cash. That’s why it makes sense to ensure they have easy access to the property listings in the U.S.
Meet our Partners Trust China founding partner Sean Mei. And call me at 310 924 4014 if you would like to know more specifics on how I can help you sell your luxury home to an international investor.
Here is your real-time real estate market info:
There is one new listing this week- 2121 La Mesa Drive. Approximately 9,300 square feet of interior space on a lot over 22,800 square feet in coveted La Mesa Drive. One listing has gone into escrow – 526 Palisades Avenue and there are 5 closed sales year-to-date (still no change over last week).
New Listings this Week
2121 La Mesa Drive – 5 bedrooms + 7 baths. $23,300,000. This home has seen its share of various owners over the past 10 years. The current owner purchased it only 2 years ago and immediately began renovating. It is a contemporary style home with breathtaking views of the Riviera Country Club golf course. It features expansive skylights, custom kitchen, exquisite dining room, state-of-the-art theater, bar with wine storage, large guest suites, pool & spa, and much more. Last sold in April 2013 for $11,225,000.
New Sales this Week
526 Palisades Avenue – 5 bedrooms + 4 baths. $5,999,000. Oversized lot 100 x 175. An amazing opportunity to remodel or build new. Great location west of 7th close to the beach and shops on Montana Avenue. The existing home has 5 bedrooms and 3.5 baths with drawings, survey site plan, renderings, etc. Last sold in April 2014 for $5,225,000.
No Closed Deals this Week
Pence Hathorn Silver Active Properties:
Call me for a couple of upcoming attractions, priced from $1.9 million to $6 million – they are not in the MLS.
345 21st St. – 6 bedrooms + 8 baths – $6,490,000
229 19th St. – 5 bedrooms + 7 baths – $5,999,000
303 9th St. – 5 bedrooms + 6.5 baths – $4,999,000
1754 Franklin Canyon Dr. – 5 bedrooms + 5.5 baths – $3,795,000
1023 S. Bundy Drive – 2 bedrooms + 2.5 baths – $2,195,000
2512 28th St. #104 – 3 bedrooms + 3.5 baths – $1,199,000
1544 12th St. #104 – 1 bedrooms + 1.5 baths – $1,195,000
1544 12th St. #302 – 1 bedrooms + 1.75 baths – $1,100,000
Search for more homes, see real time analytics and learn about the North Santa Monica / North of Montana Avenue community on our North of Montana blog. Add your comments (scroll down to the “Add Your Comment” section) and read other blogs. And please call my mobile phone (310) 924-4014 with any questions.