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Chinese Spent US$8.2b Buying US Properties Last Year
Brief:A recent study reveals that Chinese property buyers are still big fans of the United States.
Chinese buyers continue to be some of the biggest purchasers of United States properties, and a recent study revealed they spent billions of dollars in 2012 on homes in a variety of areas, with California and Detroit as top favourites.

These figures were released in the National Association of Realtors (NAR) annual report, which analyses data on US homeowners. The 2013 report collected data from a total of 375 US real estate agents from April 2012 to March 2013.

The data revealed that out of a pool of buyers from 68 countries who bought US$68.2 billion (HK$529 billion) worth of property, Chinese investors were the second largest purchasing group. This group, which included buyers from the mainland, Hong Kong and Taiwan, made property purchases that were about 12 per cent of the total amount analysed, or US$8.2 billion (HK$64 billion).

South China Morning Post

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