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Rich Chinese Are Top Foreign Buyers of U.S. Real Estate

Overseas buyers scooped up $92.2 billion of U.S. real estate last year, driven mainly by wealthy Chinese looking for a safe haven for their families and fortunes. A new report from the National Association of Realtors says sales activity from international buyers surged 35 percent in the 12 months that ended in March. While international buyers represent only 7 percent of total existing home sales nationally over the period, their buying is highly focused on high-end homes in Florida, California, Texas and Arizona. Chinese buyers were the largest foreign buyers measured by dollar volume, with sales jumping 72 percent over the 12 month period to $22 billion. Chinese buyers now account for 24 percent of all sales made to overseas buyers by dollar volume. Canada was second with $13.8 billion in deals, followed by the United Kingdom and India, each with $5.8 billion. Overseas buyers tend to pay all cash and prefer higher-end homes. Chinese buyers were the biggest spenders. The mean price they paid hit $590,826, and more than half of their purchases were in California, Washington and New York.


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7 comments

  1. We have large packages of REO properties Nationwide including single-family, multi-familiy, commercial and NPN’s. Packages of $5million+ are avaialble to serious cash buyers.

  2. I am a realtor in the Central Valley of California. I am your source of guidance, information and also negotiations on your RE transactions.

  3. I have a large investment project located in Malibu California consisting on over 100 ocean-view lots.

  4. We sell future residential and commercial real estate in Auckland and suburbs of New Zealand

  5. John Rae Norcross

    I am looking for Commercial Hospitality and Residential real estate investors for Collin County Texas.

  6. I am an agent in Collin County Texas which is in the Dallas Fort Worth Metroplex. Collin County has grown 64% since 2000 and is one of the fastest growing communities in the US.

    Real estate is booming but prices are low. The average price per sq ft is just over $100.00 US. Business is also booming with major corporations are moving here for instance, Toyota is moving their US headquarters to Plano.

    If you are looking for a solid real estate investment, contact me at 972 793-3277 or johnnorcross@kellerwilliams.com

    There is now a direct flight into DFW from Beijing.
    Best

    John Rae Norcross

  7. I entered the wrong email address Should be: johnnorcross@kw.com
    Thank you
    John

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