Chinese Investor Appetite Still Strong for U.S. Real Estate

Flush with large savings, Chinese investors are looking for attractive assets to preserve the value of their money. Their top choice?  U.S. and Canadian real estate. As the local Chinese real estate market show symptoms of a possible bubble and with volatile global equity markets, Chinese citizens continue to chase real estate on the west and east coasts of the U.S., as well as other markets such as Detroit and Memphis, reported Forbes.

The interest is not limited to individual investors. Chinese insurers doubled their purchases of overseas property to $4 billion in 2015, according to Forbes. In addition, Chineses developers have initiated projects in New York, Boston, Chicago, Los Angeles and Miami. Among these projects, Chinese developers are planning to build San Francisco’s second-tallest building and the tallest apartment tower in New York. In fact, Chinese investment commitments in U.S. real estate have already reached $13 billion as of August 2016, according to the Asia Society Special Report.