(ECNS) -- As China has set a number of regulations to cool down its real estate market, many Chinese buyers are purchasing properties overseas, and they prefer luxury houses located near schools, according to the Beijing Evening News.
Inspired by the movie "Anchoring in Seattle," an increasing number of Chinese are choosing Seattle to buy property, including the so-called luxury "Lake-view houses" by Lake Washington, located close to Bill Gates's mansion, said Frank, a real estate agent in Seattle.
Housing prices have risen over 10 percent with the increase of Chinese investors, and the available lakeview houses, which range from $5 million to $10 million, are decreasing, Frank added.
In addition to luxury properties, apartments near the University of Washington, which cost about $500,000 each, are also popular among Chinese buyers.
"Many of my clients are Chinese parents buying apartments for their children studying at the university," said Frank.
Over 1,200 Chinese students have enrolled at the University of Washington this year, compared with about 400 last year, according to Frank.
London is also attracting Chinese buyers with its luxury properties. One Chinese buyer spent 70 million yuan ($11.48 million) on an apartment at Battersea Power Station, which is located by the Thames.
Zhang Ying, manager of Jones Lang LaSalle North China, said London has become the new target for Chinese upstart investors.
"Last year, five percent of the overseas investors in London real estate were Chinese. But the number has surged to 27 percent this year."
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