Investors from China, Hong Kong and Taiwan were collectively the biggest foreign buyers of US real estate for the 10th consecutive year, the South China Morning Post reported, citing the National Association of Realtors.
Their combined investments in US property surged 27% to $6.1 billion in the year to March, and six out of 10 paid in cash, the story said. California and Florida were the two favourite destinations for China’s investors while overall foreign investors pumped $59 billion into American property, an increase of 8.5% from the previous 12 months, the story said. Full Story: SCMP
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