Friday, July 6, 2012

China's Super Rich Are Buying Into The High-End U.S. Property Market

Downtown Beverly Hills At Night. Wikipedia

China's Super Rich Flock Into U.S. Property Market -- Forbes

A young Chinese couple threw $34.5 million into a luxury mansion in Hollywood, making themselves a new neighbor of David Beckham, Jennifer Lopez and George Clooney.

Overlooking Sunset Boulevard, the 36,000-square-foot French-style mansion has nine bedrooms and thirteen bathrooms. It sits on two acres in Beverly Hills with hand-carved limestone and 24-karat gilded French chandeliers, according to a story posted on WSJ Blogs.

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My Comment: As China's wealth increases .... expect more investments and purchases from Chinese nationals.

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