China clinches top place as US home purchaser

(MENAFN) A total of USD27.3 billion, 29,195 houses indicate that China has been the largest buyer of U.S. properties for the second consecutive year, based on reports.

In accordance, increasing activity has basically brought both the dollar volume and number of units sold to levels far surpassing that of any other abroad demographic.

Amongst the top foreign buyers, Chinese buyers tend to purchase residential properties in central cities and suburban areas with relatively higher property prices.

Moreover, the average purchase price among Chinese buyers reached 936,615 dollars, almost three times of that of Canadians, the second most generous buyer group.

Nearly a third of Chinese buyers acquired residential property in California, New York, Texas, Washington, and New Jersey, with 39pct of Chinese clients buying in other states.