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(Translated Article) 

On October 18, a senior agent with Coldwell Banker Previews International, Sally Forster Jones, conducted a luxury real estate investment strategy media briefing with China's leading local media atthe China World Hotel. She highlighted that discounted US real estate prices coupled with the weakening of the US dollar has led to a surge in interest in purchasing US luxury property from the Asian region in general, and from the Chinese market in particular.

According to her presentation, luxury home sales in the US$5 million to US$10 million range in Los Angeles have been up or holding steady in the past years. Howeverfor luxury homes listed US$20 million or above, have experienced an increase. For example, nine luxury properties worth US$20 million or above have been sold so far this year, compared with four last year. Ms. Jones also pointed out that about 75 percent of the people who are looking at "super luxury homes" for US$20 million or more are now coming from countries such as China, Indonesia, South Korea and Russian. The underlying pull factors for luxury property investment in the area include: 1) prices in the Los Angeles real estate market are down; 2) luxury homes in Los Angeles are currently a bargain compared to many other international cities where prices have skyrocketed; 3) a weak dollar makes investing in the United States very affordable currently; 4) top rated public and private schools etc.

According to Ms. Jones, over the past few months she has experienced and observed a strong overseas presence among luxury buyers, and China in particular. According to her statistics, Chinese buyers account for 9% of foreign purchases in the yearly period ending March 2011. This number is up 5% from 2009.The majority of upper end potential Chinese buyers that she has engaged with holdmuchinterested in US$5 million and above properties. These buyers have come mostly from major to medium sized cities such as Beijing, and Shanghai etc. While the main purpose for their purchasing property in Los Angeles is education.

Commenting on her business trip in China, Sally Forster Jones said: "I have personally experienced a surge in interest in super luxury homes, US$20 million and above, from China in particular, and Asia in general. The time for investment in luxury properties in the Los Angeles area could not be more opportune than now as the homes are available at a significant discount. We are witnessing an improvement in the market however, so these discounts will not last forever."

Specialized in luxury real estate in the Greater Los Angeles area, including Beverly Hills, Bel Air and Malibu, Ms. Jones is widely recognized as one of the best known luxury property specialists. She made US real estate headlines this year when she co-brokered the highest listed US property in history at US$150 million - the Spelling Manor. Sally Forster Jones has achieved more than US$1 billion in real estate sales over the past decade and has averaged over $120 million per year in sales during that time, making her one of the most successful real estate agents in the nation.

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