Chinese Buyers and US Real Estate
|Chinese splurged US$28.6 billion on US real estate
|Chinese have surpassed Canadians to be the biggest group of international investors in the US – splurging US$28.6 billion on American property in 2014 alone.1
Chinese US property purchasing
Chinese buyers account for 16% of total foreign investors in the US, compared to Canadian buyers who invested US$11.2 billion in all to make up 14% of total foreign buyers.
That means Chinese purchased 28% of total international sales by dollar volume, which was a 9% increase from the year before.1
The average buying price by Chinese investors is also much higher at US$831,800 – compared to an average price of US$499,600 for other foreign buyers, and an average US house price of US$255,600.1
Read more about how Chinese big spenders are taking on the world here!
|Local vs. International Chinese buyers
Chinese buyers aren’t all coming from China, though. Roughly half, or 49% of the Chinese buyers in the US are already US residents, while 43% are non-residents from outside of the US.1
On Juwai.com, we see Chinese buyers from both China and the US looking at US properties as well. Those living in the US already generally cluster in key regions and cities. California, New York, Hawaii, Texas, and New Jersey are home to 64.8% of all Chinese Americans.4
And yet, Juwai.com search trends data shows that the locations with the fastest-growing demand from mainland Chinese buyers are not actually the traditional Chinese-American population centres, though these still have the largest share of buyer interest.
This is true for other countries as well. Cities with the fastest growing demand are often not the typical tier-1 cities. So, as Chinese buyers from China continue to seek new locations, the potential for agents and brokers around the world expand.4
Read the full article to discover the top US destinations for Chinese buyers, as well as their intended usage of their US property.
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