Over the 12 months ended March 2014, buyers from China purchased U.S. properties estimated at $22 billion in total value, approximately a quarter of total international sales according to Realtor.
Highlights of Realtor Findings
- The median price was $523,148, and the mean price was $590,826
- 76% of purchases were reported as all-cash purchases
- Chinese buyers preferred urban (37%) and suburban areas (46%)
- About half of purchases are for vacation/residential rental purposes; 39% for primary residence, and 5% for commercial rental use
- The five markets of greatest interest to potential Chinese buyers were Los Angeles, San Francisco, Irvine, New York, and Las Vegas
As we can see from the Baidu search trend, the demand on American properties is rising during the past two years, mostly from Beijing, Zhejiang, Guangdong and Shanghai.