Little red tape, and opportunities galone

Houston, Texas, has become a popular destination for Chinese property investors, according to industry insiders. To fuel the trend, Ed Gonzalez, the city's mayor pro tem, appeared at a showcase for Houston real estate projects in Beijing on May 14 to attract potential homebuyers.

What role will Houston play in trade and investment between China and the United States?

Houston will continue to have a key role in the relationship, for many reasons. We have a very strong, stable economy, and we are a diverse city. In fact, we probably have one of the largest Asian populations in the United States. There are many (Asians) leaving in California and coming to Houston, because this is such a pro-business city, and affordable compared with some places in the US. Investment is extremely good, and there are a lot of opportunities in Houston.

What's been the performance of the real estate industry in Houston since the fallout from the global financial crisis?

Houston was one of the last cities to enter the recession in 2008 and one of the first to come out. Houston has created the most jobs in the past five years among any US city, and that has resulted in tremendous opportunities in housing - all kinds of housing, from high-rises to villas - and shopping centers. Many people have discovered that the investment opportunities in Houston are much greater compared with cities such as New York, Los Angeles and San Francisco. Real estate in all those cities is expensive, but you can get more value in Houston. In the past two years, we've seen double-digit growth in the number of foreign visitors and investors, not only from China.

What policies has Houston introduced to benefit international real estate developers?

We've seen more Chinese developers grow an interest in projects in Houston. We have great markets to attract great investment, which is important when you are looking to invest aboard, especially in the US. No 1 is location, and No 2 is a qualified, reputable local partner who can make the process more efficient because they know the market. Most important, we (the Houston city government) are flexible in certain development projects. We get tax from other types of investment to help development; that's why our economy is so strong. We have very little regulation.