Take Two

News and culture through the lens of Southern California. Hosted by Alex Cohen & A Martínez

Wealthy Chinese citizens buying up California real estate

by Take Two

48058 full
Los Angeles suburbs with cul-de-sacs surrounded by freeways. Amit Patel/Flickr

Rich business people from Mainland China are snapping up high-end real estate in California. Their location of choice: San Marino.

Real estate agents there say perhaps 90 percent of all sales are now going to Chinese buyers.

We talk to the BBC's Rajesh Mirchandani, who says these buyers almost always pay in cash, and some worry their driving up real estate prices and changing the nature of the community.

blog comments powered by Disqus

Enjoy Take Two? Try KPCC’s other programs.

What's popular now on KPCC