Real Estate

Chinese buyers moving beyond “gateway” cities

therealdeal.comChinese investors have made big waves in the New York property market for a while now, but now their influence in the U.S. is being felt beyond gateway cities.

Long Lake, a new development 108-acre development 35 miles northwest of Dallas, in the town of Corinth, is emblematic of the new trend. Beijing-based Zhang Long’s Lelege USA is building 99 mini-mansions at the former Canyon Lake Ranch targeted to Chinese buyers.

The average asking price of homes at the project is $2 million, the New York Times reported. They will include extra bedrooms for buyers’ aged relatives, as well as concierges to help residents set up Internet service and pay bills.

Categories: Real Estate

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