Chinese nationals are the largest group of foreign buyers of United States residential real estate. Foreign purchases of U.S. homes jumped by 35% last year, with Chinese customers spending $22 billion out of the $92 billion total.
A report by the National Association of Realtors says Chinese buyers are being lured by reasonable real estate prices in the U.S., a sound banking system and strong property rights. Meanwhile, a report by the California Association of Realtors says that nearly 60% of foreign buyers pay cash for their American homes, while only about 30% of Americans do.
