×

Chinese billionaire real estate mogul: Now’s the time to be patient

Zhang Xin, chief executive officer of Soho China
Simon Dawson | Bloomberg | Getty Images
Zhang Xin, chief executive officer of Soho China

A Chinese billionaire who has spent her career shaping Beijing's skyline said she thinks real estate prices everywhere are pricey today and that investors should be patient.

Zhang Xin, CEO and co-founder of Soho China, described U.S. real estate as expensive. Still, she does not expect a big sell-off ahead in assets, such as real estate, that have been fueled by ultra-low interest rates for years.

"U.S. real estate today is very hot," she said during an interview at the Women in the World conference in New York City on Thursday. "It's expensive. The time to get in was a few years ago."

She also described real estate as very high in China. Recent Chinese capital controls have restricted citizens' ability to get their money out of the country in a bid to keep exchange rates stable.

Despite forecasting that prices will not collapses, Xin said now is the "time to wait and be patient."