Trump properties might have gotten some extra glamour after their name-giver became president of the United States. But China’s rich have historically shown very little interest in the Trump assets, says Rupert Hoogewerf, chief researcher of the Hurun China Rich List, and it is unlikely it’s going to change, he tells the New York Post.
The New York Post:
Like much of the luxury market right now, (New York real estate brokers) Maitland and Karadus’ listing struggled even before Trump stepped into the Oval Office. The unit originally went to market with Town Residential in December 2014 for $10 million. After a price cut to $8.95 million it was delisted in October 2015, then went on and off the market at that price with BHS. It just reappeared for $7.5 million.
While buyers from China are not out of the question — Maitland says a recent Chinese investor said “no” to other neighborhoods and insisted on “Central Park, Fifth Avenue, Madison Avenue, Trump” — they’re less likely. Rupert Hoogewerf, publisher of Shanghai-based luxury magazine the Hurun Report, which tracks the spending habits of Chinese one-percenters, says the Trump name has historically held little appeal for that market.
“I’ve talked to a lot of [wealthy Chinese] in the past about property in New York and other cities, and nobody has ever come forward and suggested Trump Tower,” he says. Instead, he notes, “it was always talk about new developments.”
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