Chinese real estate companies are planning to visit two of the US Cities who have lost significant housing market values (Los Angeles and San Francisco) to purchase property.
SouFun, the biggest real estate website in China will look at properties in California and possibly Nevada. Liu Jian, the company’s chief operating officer, said about 300 people had expressed interest in the idea in the three days since it was advertised, though the company would take only a small group on the first trip.
The Chinese have also expressed interest in GM which just last week opened its 8th auto plant on the mainland.
Tags: China, Los Angeles, economy, globalization, San Francisco, GM, trends