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Mainland Chinese Stepping up Purchases of California Properties
Brief:California is the second most attractive state for Chinese buyer. Mainland Chinese companies and individuals are ramping up purchases of property in California.
Mainland Chinese companies and individuals are ramping up purchases of property in California, accounting for an increasingly significant share of real estate deals in the state.

California is the second most attractive state for foreign buyers of U.S. property after Florida, said an Asia Society report. At present, more than half the homes sold to foreign buyers in California go to Chinese nationals, estimated CNN .

The Post also reported that California, with its historical ties with Asia, has the biggest Chinese population in the U.S. and accounts for more investment deals from China than any other state.

Another trend is for Chinese property firms to acquire business properties in California. The Post reported that Shanghai-based Greenland Group acquired a site in Los Angeles in July with a planned total investment of$1 billion.

These Chinese groups see a flattening of their domestic market and are looking to the U.S. and California for greater returns.
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