Chinese Buy Record $6.1B U.S. Real Estate

Chinese investors were the most active buyers of US real estate last year among foreigners — spending a record $6.1 billion on homes mainly in Florida and California, according to the National Association of Realtors.

Buyers from mainland China, Taiwan, and Hong Kong spent an average of just over $1 million per transaction to purchase existing homes — with nearly a third of those deals (31%) involving the acquisition of property in California, according to the NAR.

Canada came in second. Investors based north of the border spent $5.5 billion on US residential properties between April of last year and March of this year.

Buyers from India ($3.6 billion), Mexico ($2.9 billion), and Brazil ($1.6 billion) round out the top five.

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