Overseas Chinese keen to invest in university town

The US city of Boston, Massachusetts has 65 universities in its metropolitan area, making it an international hub for higher learning and an increasingly attractive destination for Chinese students. So it's no surprise that real estate properties in the area are also gaining popularity and value.

These new college grads run a website called Boston Students that specifically serves Chinese students in the city. Their services include providing airport pickups, insurance plans, and car purchases. But their main business is real estate.

"If you are a student here, the total rent for four years would be 60,000 US dollars. But if you buy a property, you could save the cost. I have a friend who bought an apartment. He lived in one room, and rented one to his schoolmate. After he graduated, he kept getting rent every month." said Dou Yingbo, Boston Real Estate Agent.

Boston Students says the number of Chinese students has increased 15-20 percent each year over the past few years, which has helped spur the value of these properties located near college campuses. Wang Qian, another Boston real estate agent serving Chinese buyers, bought a 75 square meter apartment for 290,000 US dollars. In four months, its value rose 50,000 dollars.

"This district is only 10 minutes' drive to Harvard. A new subway station will be built here in four years. So I never have to worry about renting this apartment." said Wang Qian, Boston Real Estate Agent.

Other property buyers are also doing the math.

"The tax is about 2000 dollars each year, and the rent is about 17-hundred dollars a month, and building management fees are 250 dollars a month. So it would take just 15 years for me to recover my investment." said Jiang Lushan, Home Buyer.

While potential buyers should always think twice before shelling out hefty sums, buying in Boston is becoming an increasingly appealing bet.