With investors nervously watching the Shanghai stock market, Chinese are the now biggest foreign buyers of American real estate, and they are setting their sights on the biggest state in the Lower 48.
Texas is seeing a huge influx of Chinese buyers, both investors and owner occupants, thanks to more affordable housing. And recent turbulence in China’s stock market is likely to boost demand for U.S. property, not hurt it.
“My schedule is very full. Sometimes I cannot handle more,” said Shirley Mei Qing, a real estate agent with Keller Williams in Houston, adding that she’s seen a 30 percent increase in Chinese clients in the past year. “The main reason is the house market here—comparably, the price is better than the East and West Coasts.”