Chinese Americans outspent investors from China by almost a 5 to 1 margin on real estate in the United States, reports the World Property Journal.
According to figures from Juwai.com, Chinese Americans spent 105.1 billion in 2014 compared to $22 million invested by mainland Chinese.
“They (Chinese Americans and Chinese) spend more on real estate and often are more comfortable using Chinese language media to find their property and contact agents,” said Andrew Taylor, co-CEO of Juwai.com. “Chinese Americans spend more on US real estate than all foreign buyer groups, from every nation, combined.”
Another report in Realty Biz on a survey of 500 Chinese American home buyers confirmed that feng shui is an important consideration for them when buying a home. Three out of four surveyed said they were familiar with feng shui, the art of designing the home to increase the flow of energy. Half of those familiar say they practice feng shui in their daily lives.
“For this population, feng shui applications are as essential as other traditional characteristics of a home,” said Sherry Chris, president and CEO, Better Homes and Gardens Real Estate LLC.
You can read about the biggest deal breakers for Chinese Americans in home purchases in Realty Biz.
You can read about the impact of Chinese Americans on the overall real estate market in World Property Journal.