The United States of America was the number one overseas property buying destination for Chinese buyers and investors during Q1 2014, according to data from the country’s leading property website.
America topped the list published by Soufun.com with 16.98 percent of Chinese overseas property buyers investing there during the first three months of the year. Los Angeles, New York and San Francisco were reported to be the number one destinations.
More Chinese overseas property investors are increase their budget, with those willing to spend 5million Yuan (S$1 million) or more rising from 26.75 percent last year to 40.86 percent now.
Australia (13.70 percent) was the second choice for Chinese overseas buyers according to the report, with Canada (10.22 percent), the United Kingdom (9.62 percent) and Malaysia (8.55 percent) making up the top five.
Singapore was ranked as the ninth most popular overseas property investment destination by Chinese buyers, accounting for 4.29 percent of transactions during Q1.
SouFun.com is the number one real estate website in China based on page views and visitors. It covers more than 300 cities in the country.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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If you have a property story you want us to publish email: andrew@propertyguru.com.sg