This year, for the first time, the Chinese surpassed Canadians as the top investors in American residential real estate. According to the NAR, during the 12-month period that ended in March, investors from China (Mainland China, Taiwan and Hong Kong combined) invested $22 billion in the U.S. housing market.
Canadians, the perennial leader in foreign investment, spent about $13.8 billion.
The Chinese have good reason to invest in U.S. real estate, and the impact is being felt in our local market.
Chinese investors consider the U.S. market and the coastal cities of California to be inexpensive in comparison to China. But price is not the only attraction.
The U.S. offers consistently enforced contracts, legal transparency and educational opportunities for their children.
Most Chinese buyers are shopping with cash. Locally the hottest city is Arcadia.
Read this detailed recent Business Week article:
http://www.businessweek.com/articles/2014-10-15/chinese-home-buying-binge-transforms-california-suburb-arcadia?campaign_id=yhoo
