Chinese pour $110bn into US real estate, says study
Investment is set to double in the next five years as wealthy rush to get their money into overseas assets, especially houses
Chinese nationals have become the largest foreign buyers of US
property after pouring billions into the market in search of safe
offshore assets, according to a study.
A huge surge in Chinese buying of both residential and commercial
real estate last year took their five-year investment total to more than
$110bn, according to the study from the Asia Society and Rosen
Consulting Group.
The sheer size of that total has helped the real estate market
recover from the crash that began in 2006 and precipitated the 2008
economic crisis, they said.
Chinese investment in property has also helped to inflate prices in other developed countries, notably the UK and Australia in the wake of the dip in world stock markets in 2015.
And despite a slowdown due to Beijing’s subsequent clampdown on capital outflows, the figure for the second half of this decade is likely to double to $218bn, the study said.
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