Sycamore Valley Ranch, otherwise known as 'Neverland Ranch', previously owned by the late King of Pop Michael Jackson, has been on the real estate market for the past six months. Now, the owners of the ranch are looking for a Chinese buyer to sccop up the 2,700 acres property for $100 million (RMB 639 million).

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The Neverland Ranch was listed on the market earlier this year. The ranch contains 22 structures, including a main house patterned after Normandy-style.

While Jackson created this property as a fun park, it has been converted into a classy grand estate and some of the rides have been removed.

The estate still boasts of a swimming pool with a cabana, basketball court, tennis court and even a BBQ area.  A movie theatre that can accommodate 50 people was also retained, along with the stage with a 'trap door' - as ideal for magic shows.

The yearly maintenance cost for the estate when Jackson resided there was rumored to be $3 million dollars and 54 employees were required to maintain it.

Jackson moved out of 'Neverland Ranch' in 2005 and chose to live in another place until his death in 2009.

Luxify, an online marketplace for pre-owned luxury property, targets the affluent population of China when it comes to selling prime lots such as Michael Jordan's Highland Park Estate and Michael Jackson's Neverland Ranch.

"If you look at the U.S. Property market, it's been boosted by an influx of Chinese investors. They are the largest foreign investors, having spent $30 billion last year alone," said Alexis Zirah, the co-founder of Luxify in an interview last week Friday, CNBC reports. "Their average purchase is about $800,000 as opposed $345,000 for American citizens."

Zirah pointed out that investors in China have the need to diversify their choices of investment especially with the fear of further Yuan devaluation.

Another reason that investors choose United States as their country for real estate investments is due to their children pursuing further educational opportunities in the country.

TagsChinese buyer, Michael Jackson, neverland ranch, king of pop, king of pop