American real estate is a hot topic in China – in 2014 alone, Chinese buyers have spent an estimated US$22 billion to get a piece of the pie. The reasons for buying a house in the USA are varied, as certain buyers look to diversify their investments by buying property overseas. As prices remain below the peak of 2007 in most areas, there is an abundant amount of property up for grabs.
For other buyers, American home prices are very affordable and they get more bang for their buck. For example, in areas around Los Angeles, investors can purchase multi-room homes with a two-car garage and a private yard for under US$1 million. As a result, the market isn’t just attracting savvy investors – it’s attracting celebrities as well. Many Chinese celebrities, including Liu Yifei and Ning Jing, have chosen to become American citizens, while many others buy houses in the US for vacation, work or just as something to flaunt to their friends.Just like American celebrities, Chinese celebrities often look for homes in California. Neighborhoods around Los Angeles such as Hollywood, Beverly Hills and Santa Monica continue to attract the world’s wealthiest celebrities. Other than that, their dream home also has to match their refined and sophisticated taste. Here are a few examples of Chinese celebrities living the American dream:
The mansion of famous Chinese actor Jackie Chan went on the market last year for $9.5 million. This Beverly Hills home has had a long history with various celebrities, of which it was once used as a film location for a movie featuring Marilyn Monroe. The 7,368 square foot home has 5 bedrooms, 6 bathrooms and sits on a 30,492 square foot lot. The elegant home has all sorts of amenities, including a private pool and spa.
Athlete Yao Ming is no stranger to luxury. During his time with the Houston Rockets NBA team, Yao Ming lived in a 12,000 square foot mansion that has 6 bedrooms and 9 bathrooms. Everything from the Foyers to the custom Jacuzzi bathtub was designed to fit the 7’6” basketball star. The house came with an enormous backyard complete with a pool, rock waterfall and of course a basketball court. After leaving the Rockets and moving back to Shanghai, Yao Ming put his house on the market for $3.9 million.
Academy award winning Chinese actress and director Joan Chen currently lives in a three story villa outside of San Francisco. This isn’t her first American home though, as she moved to San Francisco from Los Angeles for some peace and quiet. While she still spends a portion of her time in Shanghai every year, she considers the USA as her home now.
Fei Xiang has a beautiful apartment in a 40-story building near Times Square in New York. The singer transformed two apartments into a single loft. The apartment has floor to ceiling windows with a panoramic view of New York and Times Square. The apartment is decorated in a 60’s pop art style with works by Fei Xiang’s favorite artists, which include Andy Warhol and Roy Lichtenstein.