Chinese pouring over $110 billion into US real estate

CCTV News

Chinese pouring over $110 billion into US real estate1

Chinese investors have overtaken Canadians to be the biggest foreign buyers of U.S. property.

According to a study from the Asia Society, a surge in Chinese buying in residential and commercial real estate took their 5 years investment total to over $110 billion last year.

CCTV America’s Shraysi Tandon reports.

Chinese pouring over $110 billion into US real estate

Chinese pouring over $110 billion into US real estate

Chinese investors have overtaken Canadians to be the biggest foreign buyers of U.S. property. According to a study from the Asia Society, a surge in Chinese buying in residential and commercial real estate took their 5 years investment total to over $110 billion last year. CCTV America's Shraysi Tandon reports.

For many years, Canadians were the top foreign buyers of homes in the U.S. But recently, Chinese buyers have surged passed them.

The National Association of Realtors says in the year ending March 2015, buyers from China snapped up $28.6 billion worth of properties in the U.S. Canadians spent $11.2 billion and Indians spent $7.9 billion.

Chinese pouring over $110 billion into US real estate

The average Chinese buyer is spending almost double the average of all foreign buyers and more than triple the amount spent by Americans.

The Chinese have also been pouring money into commercial real estate.

According to Real Capital Analytics, in 2016 alone, Chinese firms have bought or are buying 47 U.S. properties worth $9.3 billion-the most of any foreign buyer.