1 MIN READJoe Biden put US real estate back on top for Asian buyers

The US has a ‘friendlier, more rational’ image, which has sparked a fresh wave of interest from property investors in Asia.

The United States is back on top as the most searched location by Asia-based buyers in 2020. Having slipped down to fourth place in 2019, it appears that caution around US-Sino trade tensions was not long-lasting.

Georg Chmiel, Juwai IQI co-founder and group executive chairman, says some buyers have shifted their demand to other countries. However, the US still has at least two big factors: Joe Biden and education. 

Georg Chmiel

“There is a consensus among most Chinese families that the American system of higher education is the best in the world, along with the elite universities in the UK,” he explained.

“Chinese may consider their own primary and secondary educational system to be good, but they believe the American universities are generally better.”

A good degree from a top US university equips graduates for a job in China, Chmiel continued, adding that, in fact, when Chinese universities recruit for professors, an advanced US degree is often a requirement.

Another factor is what Chmiel calls “the Biden boost”. “People believe that with Joe Biden as president, the old United States is back,” he said.

“Not every discussion has to be about [Donald] Trump any more. The US has a friendlier, more rational seeming spokesperson in the new president.”

Read more: South China Morning Post

Source: South China Morning Post

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