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China become Top Foreign Buyers of Existing-Homes by Country
2015-7-9 0:44:05, NAR by Jed Smith

Existing-home sales (EHS) to foreign buyers were approximately 8 percent of the total U.S. existing-home sales market of $ 1.3 trillion for the 12 months ending March 2015, according to NAR’s recently released 2015 Profile of Home Buying Activity of International Clients


Buyers came from across the globe, but five countries accounted for 54 percent of dollar sales:  Canada, China, Mexico, India, and the United Kingdom.  China led the way in the volume of international purchases in the U.S.  Chinese buyers purchased $ 28.6 billion worth of property, followed by Canadian buyers at $11.2 billion, Indian buyers at $7.9 billion, Mexican buyers at $4.9 billion, and buyers from the United Kingdom (U.K.) at $3.8 billion.



Chinese buyers bought more US homes, for more money, than any other foreign investors last year, as China’s wave of outbound investment continues to spread globally.


Home buyers from mainland China, Hong Kong and Taiwan together purchased $28.6 billion worth of US residential property in the period from April 2014 to March 2015, according to a report released recently by the National Association of Realtors. The total for Chinese investors was more than double the $11.2 billion in housing purchased by Canadians, who were the next biggest foreign buyers.


The surge in Chinese home purchases comes despite a drop in activity from other foreign buyers and coincides with mainland investors becoming the biggest foreign purchasers of homes in Australia this year.


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