News
China The Top Foreign US Residential Real Estate Buyer For Fourth Year
July 7, 2016
A recent report shows Chinese buyers are once again the top purchasers of US residential real estate, accounting for $27.3B invested in more than 29,000 properties since last March.
Within the past 12 months, the average Chinese investor spent $542k on property—that’s more than double the existing US home price of $223k, the National Association of Realtors says. Following behind China comes Canada with $8.9B worth of US properties. India ranked third with $6.1B in purchases, MarketWatch reports.
Though China topped the list of foreign buyers, data shows foreign investment in US residential has declined slightly by 1.3% to $102.6B—even Chinese purchases fell by 4.5%. [MW]
