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Increased investment and expansion in Toledo from overseas
The Chinese have climbed to 2nd in the rankings for most US real estate investment, second only to Canadians according to a recent survey by NAR.
This extensive investment is of course spread out across the entire country, but there are some pockets that are being paid particular attention.
One of them is Toledo, a city straddling the Ohio and Michigan borders and on a key freeway linking a number of major cities including Chicago, Pittsburgh and Cleveland to name but a few.
Its key location along a busy transport route combined with real estate prices that are still recovering from the housing crash, has made it an attractive prospect for investors.
One of the biggest groups of international investors purchasing real estate in Toledo are the Chinese. Toledo has spent 3 to 4 years strengthening links in China and some of largest recent purchase of Toledo property has been as follows:
$2.15 million – Maumee River Restaurant
$3.8 million – Marina District land
$200 million promise to build on this land for development
$3 million on an old hotel opposite Baseball Park
The above is just a fraction of the amount being investing in US real estate by overseas buyers. Since the housing crash in 2008, investment in undervalued US property has rocketed.
Chinese investors, like many other overseas investors, have turned to the US’ new found economic growth for a more secure way of investing their money. But why? Chanos from CNNMoney at the MIG confere nce in LA explains China’s own property state: “China is a country which has found itself in the centre of an epic property and building bubble which will end, but not very nicely.”
Helping to push Toledo into the international limelight was former mayor, Mike Bell who made numerous trips to China to promote the city.
“My vision is to make Toledo a true international city” said Bell.
Bell made headlines with his networking in China, presenting the city at numerous expos across China. He helped to secure the FLGG investment in Toledo's waterfront.
Real estate comes 2nd behind Technology for investment by the Chinese. Due to the economic worry in China, the rich want to diversify and vary their investments.
Foreign investors who put $1 million into a U.S business and other requirements are automatically eligible for a Green card, but in Toledo the amount has been lowered to $500,000.
At Property4peanuts.com we have a range of exceptional property investment opportunities in Toledo which can be found on our websites. Prices start from just $26,000 for a turnkey property with yields of up to 19% after costs. Full management included.
For more information visit: http://www.property4peanuts.com/
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