Saturday, July 9, 2016

Over 40 Percent Of US Luxury Home International Buyers Are Chinese

From Dow Jones, Mansion Global, "More than 40% of All Foreign Buyers of Luxury Homes in the U.S. Are Chinese: One out of four Chinese buyers in the U.S. purchased $1 million-plus homes" by Fang Block:
Chinese buyers purchased more homes in the U.S. — and at higher prices —than any other international buyers.

In fact, 42% of foreign buyers who purchased homes worth $1 million or more in the U.S. between April 2015 and March 2016 were Chinese, the National Association of Realtors (NAR) reported.

Out of all buyers from mainland China, Taiwan and Hong Kong, about 27% bought homes valued at $1 million and higher, according to an NAR analysis completed for Mansion Global.

By contrast, only 4% of all Canadians — the second-largest group of foreign buyers in the U.S. — bought homes for $1 million or over.

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Top Four Luxury Markets for Foreign Buyers
StatePercentage of $1 million-plus homes sold to foreign buyers
California39%
Florida14%
New York14%
Washington6%
Source: National Association of Realtors

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