Following a long lull, Chinese buyers once again dominated foreign purchases of U.S. homes in recent months, according to a new report.
In the 12-month period between April 2022 and March 2023, Chinese buyers accounted for 13% of all foreign buyer purchases, according to NAR survey data.
Most Chinese buyers are now purchasing U.S. homes for their own use, said Kashif Ansari, co-founder and group CEO of international property company Juwai IQI, citing the company data.
“In 2023, the typical Chinese buyer is no longer an offshore investor but is on their way towards becoming an American resident and citizen.”
Chinese buyers spent $13.6 billion on existing homes during the most recent period, more than doubling the $6.1 billion they had spent the prior year.
Read more: Axios
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