Chinese Splurged Most On US Houses for Seventh Straight Year Amid Sluggish Market
Liao Shumin
/SOURCE : yicai
Chinese Splurged Most On US Houses for Seventh Straight Year Amid Sluggish Market

(Yicai Global) July 18 -- Chinese people have spent the most money among foreign house buyers in the US for the seventh consecutive year, according to an American real estate organization.

Chinese buyers purchased USD13.4 billion worth of houses from last April to this March, the National Association of Realtors said in a report. Meanwhile, the total sales to foreigners in the US dropped 36 percent from the previous year to USD77.9 billion.

Canadians came in second on the list with a total sales value of USD8 billion. Indians were third with USD6.9 billion. Brits forked over USD3.8 billion and Mexicans USD2.3 billion.

Canada and China were equal in terms of volume as both groups bought 19,900 houses. However, Chinese people went more upscale with their average purchasing price rising above USD670,000. Canadians chose houses priced at USD400,000. British people were the poshest, willing to pay nearly USD740,000 on average.

Editor: Emmi Laine 

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Keywords: US Real Estate , Foreign Buyers , Chinese