It is no secret that Chinese investors are bullish on real estate. According to the Asia-Pacific Wealth Report 2008 by Merrill Lynch and Capgemini, in 2007, a year that saw investors diversify into other assets against the backdrop of a booming stock market, high net-worth individuals in China allocated 21% of their assets to real estate, against a global average of 14%. Fast forward to 2011 and the dual elements of a massive U.S. real estate inventory and nonexistant conventional financing...and you can see where this is going. In his press release on the Orlando event, Brian quotes the GroupM Knowledge - Hurun Wealth Report 2011....check out these stats:
- China today has 960,000 ‘millionaires’ with personal wealth of 10 million Yuan or more (USD$1.5 million), up 85,000 individuals or 9.7% from the prior year.
- In 2009, there were 825,000 millionaires, growing last year to 875,000.
- China also has 60,000 ‘super rich’ with 100 million Yuan or more, up 9.0% from last year.
But to me the single most telling statistic is this one: four out of five Chinese millionaires are thinking of sending their children to study overseas...with the US and UK their preferred destinations.
While still EB-5 focused, this event marks a new emphasis on the real estate sector by Brian. As always, it will be a full day event and feature an impressive panel of experts. The opportunity to network, however, is the single most compelling point (especially to those of us who have heard every possible variation of the EB-5 "Book of Revelations" a dozen times (-;)
My good friends Scott Barnhart (the distinguished economist with whom I work on Regional Center projects) and John Jiang (from Henry Global, one of China's largest and most reputable EB-5 agencies) will be speaking, as will my old friend Ed Beshara, whom I haven't seen in a zillion years. Seats are limited and if this one goes the way of the last few, it will be a sell-out, so get your seats now: Register for Brian's 9/30 EB-5 Orlando Forum and see you in Mickey Town!