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Wealthy Chinese Are Snapping Up U.S. Real Estate [Seeking Alpha]

iShares GLOBAL TIMBER & FOREST (WOOD)  More Company Research Source: Seeking Alpha
PDF Summary The majority of wealthy Chinese are planning their exit strategy out of China… or at least considering it. The top destination? The U.S. Five of the six top target destination cities are all in the U.S. So the Chinese are increasingly buying real estate in the U.S… but they're not the only ones. A recently released report from the U.S. National Association of Realtors found that in the 12-month period ended March 2017, foreign buyers (and recent immigrants) bought US$153 billion worth of residential property in the U.S. This is a 49 percent year-on-year increase from the year ended March 2016, where foreign buyers bought US$102.6 billion of residential property. And it shattered the previous record set in 2015 of US$103.9 billion. In all, foreigners purchased 284,455 properties, an increase of 32 percent over 2016. To the surprise of nobody, the Chinese were the largest buyer of U.S. property by dollar value, responsible for a record high US$31.7 billion [Read more]

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