I think one of the biggest reasons investors from China are interested in real estate in Hawaii is the stability of the market. The Hawaii real estate market has remained strong where elsewhere in the nation has seen drops in value of half or more. Arizona has had homes on the market lately for $89,000 that sold new for $327,000 in 2006. Another interest the Chinese have is in the history of Hawaii. The Chinese were some of the first workers to come here to work in the cane fields and have obviously settled in firmly into the culture and invested in Hawaiian real estate for many centuries. Maybe one of the most desirable aspects for foreign investors is the fact that our money right now has a lower than normal value. So, when they invest their money in our nation’s real estate, they not only get the increase in the value of the real estate, but they also benefit as the value of our dollar increases as the economy strengthens.
I went to China last year and grew a network of investors and Realtors whom I stay in contact with, but James Wright, the owner of the company has been there many times and will be there again next week. We feel that this is an important avenue to be resourceful in, and I work closely with many agents in our firm that are fluent in English, Mandarin, and Cantonese.
Eric J. Bricker
Broker in Charge
Century 21 All Islands