China’s love for real estate knows no bounds. American cities like the Soma district in San Francisco and downtown Los Angeles are getting more than a skyline makeover because of them. They’re getting jobs.
Chinese real estate investment has created over 200,000 American full time jobs over the last six years, and brought in more money from individual foreign investors than any other county.
Twenty thousand Chinese individuals were awarded the EB-5 immigrant investor visa. That’s for people coming to the U.S. with a $500,000 to sink into job creating endeavors, not just house hunting. And within that EB-5 program, China accounts for 70% of the visas. All told, they’ve brought in $9.5 billion into the U.S., or roughly $1 billion per year over the last 10 years.
Chinese investors are investing in everything real estate landmarks to new skyscrapers in major American cities.
China’s love for housing has had a “significant impact on the U.S. economy and jobs.” Development of hotel, office, and retail properties keeps permanent jobs intact, while development of all types are creating jobs.