You might know that Chinese buyers make up the fastest growing group of buyers of residential real estate in the United States. You might not know how dominant they actually are.
What grabs the headlines most often is that mainland Chinese are snatching up luxury property in Los Angeles, San Francisco and New York. But Chinese buying is much more widespread than this suggests.
Across the country, Chinese purchasers bought over $10 billion of US real estate in 2011. They make up 9 percent of foreign US house buyers, second only to Canadians. Chinese buy more US homes than do Indians, Mexicans or the British.
Nor do they limit themselves to a few big cities. Did you know that mainland Chinese rank among the top 5 foreign nationalities buying real estate in 44 of the US states?
The Chinese are already the number one foreign buyer group in both West Virginia and Massachusetts. They are number two in New York, Maine, Indiana, Missouri, Colorado, Wyoming and Hawaii.
The Real Estate Professional
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