US online property service Zillow (Z.NASDAQ) said on Wednesday it would partner with Beijing Yisheng Leju Information Services, a Chinese real estate portal, to provide listings for US homes, whetting appetites of Chinese real estate investors, The Wall Street Journal reported. Zillow lists more than two million US residential properties and earns revenue through advertising generated from its online listings. Wealthy Chinese individuals looking for diversification have eyed US homes, eschewing China’s oversaturated property market. Chinese buyers are already the second-largest source of foreign demand for US property only behind Canadians.
Categories