DALLAS, Dec. 13, 2013 /PRNewswire/ -- Move over, California; move over, greater New York City and Connecticut. A delegation of U.S. investment experts is finding a growing interest in Texas ranch and land by wealthy Chinese investors.
Midway through a 12-day, five-city tour of China, Dallas business leaders are introducing Chinese business influencers to Texas and its investment opportunities.
"The Chinese business owners we are meeting have a great deal of interest in U.S. real estate," said Robbie Briggs, CEO of Briggs Freeman Sotheby's International Realty in Dallas. "One group of 70 CEOs we spoke with asked questions regarding residential taxes, high-rise apartments that can be leased out, whether ownership is fee simple, what kind of investments qualify for the EB-5 immigration program, and the availability of food-supply properties and ranches. The interest level everywhere we go is apparent."
Briggs is leading the group, which includes Ben Briggs, Executive Vice President, Greater China, for Briggs Freeman Sotheby's International Realty; Jie Hao, International Real Estate Advisor, Greater China; and investment and real estate expert Vip Vipperman, who lived in China for nearly a decade and speaks fluent Mandarin.
They began their visit in Shanghai, at the Luxury Property Show, and have visited Danyang, Xiamen and Shenyang. They end their trip in Beijing.
Briggs and his son have strong ties to China. Ben Briggs founded and ran a company in Xiamen for eight years; Robbie Briggs served as Chairman of the Board of the International School of Beijing when he lived there for three years.
They knew their colleagues in China would want to learn about opportunities in Texas and Dallas-Fort Worth.
"Our instincts about massive market demand were correct. Meetings with banking leaders, lawyers and investors have revealed a feeling of insecurity about assets in China that is motivating them to want to park wealth in U.S. real estate," Ben Briggs said.
Briggs Freeman Sotheby's International Realty is Dallas' luxury real estate leader, with more than 200 agents in five offices throughout Dallas-Fort Worth and access to the global Sotheby's network, including more than 11,000 agents in 600 offices worldwide.
SOURCE Briggs Freeman Sotheby's International Realty