By P.C. Staff
A new report by the World Property Journal via Juwai.com states that Chinese Americans outspent mainland Chinese buyers of real estate by nearly 5 to 1 in 2014.
According to the report, Chinese Americans invested $105.5 billion in real estate while $22 billion was invested by Chinese in the mainland.
Andrew Taylor, co-CEO of Juwai.com, states that Chinese Americans have a habit of using the same means of research and purchase real estate as overseas Chinese buyers. “They spend more on real estate and often are more comfortable using Chinese-language media to find their property and contact agents,” Taylor says.
Despite any sort of racial issue or stereotype, Chinese American real estate buyers do not “shy away” from purchasing properties in the United States.
According to Taylor, “. . . Chinese Americans look for property at an average price of $1.5 million . . . Chinese Americans spend more on U.S. real estate than all foreign buyer groups, from every nation, combined.”
Details can be found here.