Living – An insider’s view of the Chinese investor: interview with Emma Hao

05A Chinese mother buying a $6.5 million NYC apartment for her 2 year old daughter? Nowadays, more and more Chinese people come to the United States to purchase an apartment. Based on this, we interviewed Emma Hao, one of the top rated real estate salespersons on Wall St in 2010, to give you an insider’s view.
Before Emma came to the United States, she was a reporter at Journal Magazine in China. In 2009, she got herself into the real estate market. Now Emma works at Douglas Elliman Real Estate, the largest regional, and nation’s fourth largest real estate company, mainly working with their Chinese clients. She also just opened her own consulting company for investment and immigration. Emma knows first-hand that being a broker is very challenging; you have to utilize all your background and skills together. By the time she started working as a broker, the market had not recovered yet, which made it more difficult than usual. She consistently tries her best to satisfy her clients with every deal. It’s because of this, that Emma gains a good reputation within the Chinese community. In her personal dictionary, the definition of happiness has nothing to do with the balance of your checking account. Enjoying what she is doing and helping people gives Emma the greatest satisfaction. One of her most unforgettable memories was when she brought more than 30 students to see an apartment all at the same time. She has also organized a boat party for a mid-autumn festival with more than one hundred students.
According to Emma, real estate prices and rents in Roosevelt Island and Long Island City are currently on the rise, especially in the luxury housing market, where there is not enough supply to meet demand. In line with the current nationwide trends in real estate, the Roosevelt Island market is picking up at a rapid pace. In addition to the facelift happening on Main Street and three new residential towers currently in the works, existing properties are renting and selling much more rapidly than the island has seen in recent years.
As for Long Island City, prices are getting higher and units are getting smaller, due to a lack of housing and more people looking to settle in this area. Not too long ago, Long Island City was a gritty, industrial neighborhood and many people were confused by its name, wrongly believing it was actually out on Long Island. But now, there are vibrant industrial, residential, commercial and cultural communities in Long Island City. Emma also pointed out this area is in very close proximity to Manhattan, and therefore the future of Long Island City continues to look very promising.