Chinese Investors Throw Big Bucks At US Real Estate. Over $6.1 Billion Spent In 2021.

This is a home sold in Mount Lebanon, Pa., on Tuesday, Sept. 21, 2021. Would-be homeowners are increasingly opting to pay sellers more than their asking price in hopes of edging out rivals as heightened competition for few homes on the market fuels bidding wars. About 52% of U.S. homes sold in January 2022, fetched more than their list price, up from 40.2% a year earlier, according to data from Redfin, a national real estate brokerage. (AP Photo/Gene J. Puskar)

Do you personally know anyone who bought a house in China last year or invested in Chinese real estate? Yeah, it’s not really a thing for Americans to do that, but it’s the opposite when it comes to American real estate being purchased by the Chinese.  They spent more money than any other foreigners, focusing their attention on Florida and California. 

Chinese investors spent $6.1 billion in 2021, averaging just under $1 million per transaction.

Canadians also threw a lot of their cash at homes in the U.S., spending $5.5 billion, and buyers from India were the third biggest foreign investors, spending $3.6 billion on American pads. 

For the 14th straight year, Florida was the state that attracted the heaviest volume of real estate buys, 24% of the international business. California was second with 11%, but one thing that would scare investors away from Cali is the price tag of homes in Southern California. 

The study showed that foreign investors paid in cash twice as much as resident foreign buyers who intended to live in the homes. 

It will be interesting to see what the numbers look like next year since economists have predicted that the US housing market is facing. Potential meltdown. A recent report said that the number of mortgages taken out for purchases in the US is at a 22-year low. 

Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please hover over that comment, click the ∨ icon, and mark it as spam. Thank you for partnering with us to maintain fruitful conversation.