Easy U.S. visa rules attract more Chinese buyers

02/20/2015

Easy U.S. visa rules attract more Chinese buyers

HONG KONG – Feb. 12, 2015 – An extended visa to visit America could lead to more home purchases in the U.S. by Chinese buyers. The two countries in November signed an agreement to eliminate the hassle of yearly renewals of tourist and business visas.

Citizens of both nations will be able to obtain 10-year visas.

"It will make a trip much easier," says Tony Huang, managing director of Shanghai-based Maxview Realty. "One just needs to buy a ticket and pack."

According to a survey by East-West Property Advisors, which helps Asians buy U.S. property, 25 percent of Chinese respondents said the visa extension would directly translate into speedier purchases, while 42 percent said it would help to a varying degree.

Chinese buyers are already the largest or second-largest group of foreign buyers in 46 of the 50 states, according to the National Association of Realtors.

Source: South China Morning Post (Hong Kong) (02/11/15) Chiang, Langi

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