Friday Facts: It’s a Small World

  • List Hub, the well-known syndication site, will feed U.S. listings to the Chinese real estate portal Sou Fun.  Sou Fun means “House Search” in Mandarin Chinese and covers 336 Chinese cities.

 

  • China is #3 in top origin countries to the U.S.  #1 is the U.K. and #2 is Germany. On the Cape, we see fewer Chinese buyers and more form Eastern Europe, especially Russia.

 

  • From OPP (Overseas Property Professional) Connect, by 2016, Chinese cross border real estate funds flowing in to the U.S. will become the top recipient of cross border real estate funds from a single country.

 

  • WorldProperties.com reports that Canada has scrapped its immigrant investor program.  The cash for citizenship program started in 1986 and allowed foreigners to invest money in Canada in return for permanent residency and eventual citizenship.  Canada is refunding 59,000 immigrant investor applications (of which 45,000 are mainland Chinese) and 7,000 entrepreneur applications at a cost of $2,000,000.

 

  • Again from WorldProperties.com, “Polar Vortex Chills Home Sales Activity in Canada”.  The number of home sales fell 3.3% in January, month over month, the 5th straight monthly decline.  Activity is 9.1% below the peak of August, 2013.

 

  • OPP Connect reports that Scandinavians are snapping up discounted Spanish properties.  Finnish buyers are up 90% from 235 transactions in 2012 to 446 in 2013.  Swedish buyers saw a 65% increase from 1253 to 2069.
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