Middle-class Chinese buyers use US real estate to ‘safe harbor’ money
According to data from the National Association of Realtors (NAR),
Chinese citizens have represented the largest share of foreign buyers in the US real estate market for the last six years, outpacing every other country by both number of residential units purchased and total dollar amount spent.
Buyers from China bought 40,400 units totaling $30.4 billion between April 2017 and March 2018, the latest data available from NAR.
They spent a median of $439,100 per purchase in the first half of 2018 — about 17% less than the previous year.
Business Insider