"The new agreement expands SouFun's ability to provide the most comprehensive service to Chinese agents and their clients interested in US homeownership," said Liu Jian, chief operating officer of SouFun. "It enables the Chinese buyer interested in expanding home investment opportunities outside the country to compete effectively in the U.S. marketplace."
The National Association of REALTORS (NAR) 2013 Profile of International Home Buying Activity reports that China represents the second largest group of foreign home buyers, after Canada, comprising 12 percent of foreign purchases of U.S. real estate in 2012. It also has been one of the fastest-rising international investment markets, increasing 140 percent since 2007.
Many purchases were made possible through the U.S. government's EB-5 Immigrant Investor program, which has been largely dominated by buyers from China – nearly 80% of all EB-5 visas went to Chinese nationals in 2012, according to the U.S Department of State.
The rise in interest in U.S. properties from Chinese buyers in recent years has been fueled in part by the opportunity to own land outright in the U.S. In addition, recent restrictions on multiple-property ownership in China designed to help curb housing prices there have broadened the appeal of overseas investment.
SouFun operates the leading real estate Internet portal in China as measured by the number of page views and visitors to its websites. Through our websites, we provide marketing, e-commerce, listing and other value-added services for China's fast-growing real estate and home furnishing and improvement sectors. Our user-friendly websites support active online communities and networks of users seeking information on, and other value-added services for, the real estate and home-related sectors in China. SouFun currently maintains about 100 offices to focus on local market needs and its website and database contains real estate related content covering more than 336 cities in China. For more information about SouFun, please visit http://ir.soufun.com.
ListHub is operated by Move, Inc., (MOVE), the leader in online real estate. ListHub provides a platform to MLSs and real estate brokers to effectively manage every aspect of advertising listings online, including tools for making informed advertising choices, flexible options for routing consumer traffic and leads, and reporting for accurately measuring the results of their online marketing. Listing information is kept up-to-date to provide today's homebuyers with the most accurate information available from the MLS. ListHub is the leading platform nationwide for listing management, serving more than 50,000 brokerage firms, and synchronizing listing information from over 450 data sources with more than 125 publisher websites. www.listhub.com
About Move, Inc.
Move, Inc. (NASDAQ:MOVE), the leader in online real estate, operates: realtor.com, the official website of the National Association of REALTORS; Move.com, a leading destination for new homes and rental listings, moving, home and garden, and home finance; ListHub, the leading syndicator of real estate listings; Moving.com; SeniorHousingNet; SocialBios; Doorsteps, TigerLead; Top Producer Systems and FiveStreet, Inc. Move, Inc. is based in San Jose, Calif. http://marketing.move.com