China re­mains top buyer of US real es­tate

China Daily (Canada) - - NEWS CAPSULE -

China is the big­gest buyer of US homes for the sec­ond year in a row.

In terms of dol­lar vol­ume, the Chi­nese bought 26.7 per­cent of the to­tal amount of residential prop­erty sold, said Lawrence Yun, chief econ­o­mist at the Na­tional As­so­ci­a­tion of Real­tors (NAR).

Ac­cord­ing an NAR study that looked at home sales in the US by in­ter­na­tional buy­ers from April 2015 through March 2016, Chi­nese buy­ers tended to pur­chase residential prop­er­ties in cen­tral cities and sub­ur­ban ar­eas with rel­a­tively higher prop­erty prices.

The av­er­age pur­chase price among Chi­nese buy­ers reached $936,615, al­most three times of that of Cana­di­ans, the sec­ond­biggest buyer.

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