logo
China Leads List of Foreign Citizens Buying US Property

China Leads List of Foreign Citizens Buying US Property

Newsweek4 days ago
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources.
Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content.
Chinese nationals once again dominated foreign purchases of U.S. homes over the past year, according to a new report by the National Association of Realtors (NAR), with their expenses increasing by 83 percent compared to 2024.
In its latest report on international transactions in U.S. residential real estate, NAR found that Chinese buyers accounted for $13.7 billion of the total $56 billion spent by foreign buyers in the U.S. housing market between April 2024 and March 2025.
It was more than double the investment that Chinese buyers made a year earlier, $7.5 billion, and a little more than they spent in 2024, at $13.6 billion.
In terms of the number of existing homes purchased by foreign buyers, Chinese buyers snapped up 11,700 of the total 78,100. They represented 15 percent of all foreign buyers, followed by buyers from Canada (14 percent), Mexico (8 percent), India (6 percent), and the United Kingdom (4 percent).
Chinese buyers also paid the highest purchase price of the top five foreign buyers, according to NAR. Over the last year, their average purchase price was $1,168,800, while their median purchase price was $759,600.
Why Are Chinese Buyers So Interested In U.S. Homes?
Matt Christopherson, the director of Business and Consumer Research at NAR, believes that China's real estate crisis is partially to blame for the surge in interest in U.S. homes among Chinese buyers.
China's real estate sector, which at its peak contributed 25 percent of the country's total GDP and 38 percent of Beijing's government revenue, played a significant role in driving the country's spectacular economic growth over the past few decades.
But excessive borrowing and speculation brought the sector to a breaking point. In 2021, Evergrande defaulted on its debt, shaking confidence in the sector. Other developers, like Country Garden, followed in its footsteps, further destabilizing the market.
Since then, China's real estate sector has been navigating troubled waters, with declining prices and stalled construction. The crisis is having a negative impact on the entire Chinese economy, slowing growth despite authorities' efforts to prop up the housing market.
According to Christopherson, these challenges at home are prompting Chinese buyers to seek alternative investment opportunities for their hard-earned money.
"The Chinese housing market has been slow to recover following the pandemic, so Chinese buyers see a beneficial opportunity in diversifying their investment portfolios with exposure to stronger U.S. markets," Christopherson told Newsweek.
"China's continued investments in U.S. mortgage-backed securities further shows their interest and confidence in the American markets. Investment buyers from China find strong cash flow investment opportunities with residential rentals, as our affordability shortcomings are putting upward pressure on rental demands," he said.
"Additionally, Chinese students more often purchase housing during their studies, with nearly one-fifth of Chinese buyers purchasing for this use."
The data contained in NAR's report covers the period from April 2024 to March 2025, before President Donald Trump announced tariffs against China, sparking a budding trade war between Washington and Beijing.
Where Are Chinese Buyers Purchasing Homes?
California was the top U.S. destination for Chinese homebuyers, accounting for 36 percent of all their purchases in the country. It was followed by Maryland and New York (each representing 9 percent of all Chinese buyers' purchases in the U.S.), Hawaii (5 percent), Georgia, Idaho, Louisiana, North Carolina, and Washington (4 percent each), and Arizona, Delaware, and Florida (3 percent each).
"Chinese buyers are drawn to California due to its proximity to China, business opportunities from moving to the world's 4th largest economy, and stronger cultural ties to the population in certain markets," Christopherson said. "Additionally, low affordability in California brings strong rental demand, presenting an opportunity for those investment buyers purchasing residential rentals."
Maryland is also a top destination for Chinese buyers, despite not being as popular among buyers from other nationalities, representing the majority of foreign buyers in the U.S.
"Given that the majority of Chinese buyers (57 percent) are resident buyers, more often purchasing detached single-family homes for primary residence or residential rental, these buyers are likely wishing to live in the D.C. or greater DMV area."
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Cheaper Model Y Can't Come Soon Enough As Tesla's Profits Tank Again
Cheaper Model Y Can't Come Soon Enough As Tesla's Profits Tank Again

Miami Herald

time14 minutes ago

  • Miami Herald

Cheaper Model Y Can't Come Soon Enough As Tesla's Profits Tank Again

It doesn't seem that long ago that Tesla was an unstoppable force, as it experienced an unprecedented rate of growth. While the Model 3 and Model Y continue to sell strongly, Tesla's latest Q2 quarterly results continue to demonstrate a sharp decline for the EV giant. In an earnings conference call, Elon Musk focused on automated driving software, robots, and robotaxies, rather than vehicle sales, as he tried to paint a more positive picture of the company's future. Let's take a more detailed look at the numbers. In Q2 of 2025, Tesla's revenue dropped 12% and profits were down by 16% year-on-year, due to a sharp decline in sales, reports The Globe And Mail. Revenue was down from $25.5 billion to $22.5 billion, while quarterly profits dropped from $1.4 billion to $1.17 billion. In premarket trading on Thursday, Tesla's shares dropped by close to 7%, and its stock is down by around 18% so far in 2025, according to Reuters. Elon Musk's political controversies are widely believed to have damaged Tesla's image. This, together with stronger and stronger competition, has resulted in the decline we're witnessing in 2025. Furthermore, the groundbreaking Cybertruck was expected to take over the electric pickup segment, but that hasn't happened. "Musk is the face of Tesla, and for many people, the brand can't exist outside of his influence. So, when his credibility and trust decline, so does the equity of the Tesla brand", said Daniel Binns, Global CEO at Elmwood. Related: Tesla Won't Like How Many Pre-orders New $46k Chinese SUV Received In the earnings call, Musk admitted that the company expects a "few rough quarters" in the near future. Contributing to this is the fact that federal tax incentives for EVs are falling away at the end of September, which will significantly affect the value proposition of Tesla's two high-volume cars, the Model Y and Model 3. Many expected a cheaper car to boost Tesla's fortunes, but this vehicle won't be an all-new car. "It's just a Model Y," said Musk when talking about the lower-cost EV, reports Inside EVs. "Let the cat out of the bag there," he said. "We continue to expand our vehicle offering, including first builds of a more affordable model in June, with volume production planned for the second half of 2025," said Tesla. Related: New Report Highlights 'Hidden Truth' Behind Tesla's Vanished $25K EV We don't expect anything close to the once-promised $25,000 EV. Now that we know a cheaper Model Y is coming, a less powerful version that starts at below $40k looks likelier. "We're in this weird transition period where we'll lose a lot of incentives in the U.S.," Musk said. "Once you get to autonomy at scale in the second half of next year, certainly by the end of next year, I would be surprised if Tesla's economics are not very compelling." Musk is known for his hyperbolic promises, so we would take that statement with a pinch of salt. It's clear that Tesla has an image problem, and changing that with Musk still at the helm is going to be an uphill battle. Copyright 2025 The Arena Group, Inc. All Rights Reserved.

Caller Wants To Combine Finances Before Marriage. Dave Ramsey Replies, 'She Likes Her Rental Property More Than She Likes You'
Caller Wants To Combine Finances Before Marriage. Dave Ramsey Replies, 'She Likes Her Rental Property More Than She Likes You'

Yahoo

time28 minutes ago

  • Yahoo

Caller Wants To Combine Finances Before Marriage. Dave Ramsey Replies, 'She Likes Her Rental Property More Than She Likes You'

A caller named Mike from Pittsburgh phoned into 'The Ramsey Show' recently with a big question: Should he propose to his girlfriend even though they don't see eye to eye on money? Mike, 36, explained that he recently sold a piece of land and will walk away with $180,000. He wants to use that money to pay off his house within four years, then rent it out. His long-term plan includes buying a bigger home with his girlfriend and eventually paying off her rental property to increase their combined cash flow. She Wants A Prenup. He Wants To Combine Everything While Mike is ready to merge finances, his girlfriend has a different idea: a prenup. That was a deal-breaker in his eyes. 'I see no reason for it,' he said, with Dave Ramsey finishing his sentence, saying, 'because your asset base is fairly similar.' Don't Miss: 7,000+ investors have joined Timeplast's mission to eliminate microplastics—now it's your turn to $100k+ in investable assets? – no cost, no obligation. Ramsey then cut to the chase. 'You're not ready to propose,' he told Mike. 'You guys have got to continue to have this discussion until we can come to some kind of mediated agreement.' Ramsey emphasized that this disagreement isn't about dollars but about values. 'Your treasure is where your heart is,' he said, quoting Jesus. 'When she says, 'I want my stuff to be separated in a prenup,' what she's saying is, 'I don't agree with how you're spending your money and our value systems are not aligned.'' Ramsey co-host Jade Warshaw echoed that sentiment, saying the real red flag wasn't the prenup itself but what it represented. 'The response to conflict can't be, 'Well then I'm just going to take my stuff over here,'' she said. Ramsey took it a step further: 'If you want to go super extreme, she likes her rental property more than she likes you.' Trending: This AI-Powered Trading Platform Has 5,000+ Users, 27 Pending Patents, and a $43.97M Valuation — Family Influence And Fear-Based Thinking Mike believes part of the hesitation comes from his girlfriend's upbringing. 'Her mom's always raised her once you have kids, your life is over,' he said. 'Her mom has the outlook that you need that money to run away if something goes bad.' Ramsey wasn't surprised. 'We're already planning our exit and we hadn't even gotten to the altar,' he said. He advised Mike to hold off on engagement and focus on getting aligned in four key areas: money, in-laws, children and religion. 'If you're aligned on them, statistically, you have a 90% probability of your marriage lasting.' He also recommended premarital counseling and a six-month to 18-month engagement window. 'She's probably a keeper,' Ramsey concluded, 'but not yet.' Read Next: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." The average American couple has saved this much money for retirement —?UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Caller Wants To Combine Finances Before Marriage. Dave Ramsey Replies, 'She Likes Her Rental Property More Than She Likes You' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.

Asking prices for Worcester County homes rose slightly in June. See current median price
Asking prices for Worcester County homes rose slightly in June. See current median price

Yahoo

time31 minutes ago

  • Yahoo

Asking prices for Worcester County homes rose slightly in June. See current median price

The median home in Worcester County listed for $577,400 in June, slightly up from the previous month's $575,000, an analysis of data from shows. Compared to June 2024, the median home list price increased 5% from $562,450. The statistics in this article only pertain to houses listed for sale in Worcester County, not houses that were sold. Information on your local housing market, along with other useful community data, is available at Worcester County's median home was 1,980 square feet, listed at $299 per square foot. The price per square foot of homes for sale is up 3.9% from June 2024. Listings in Worcester County moved briskly, at a median 25 days listed compared to the June national median of 53 days on the market. In the previous month, homes had a median of 23 days on the market. Around 1,020 homes were newly listed on the market in June, a 13.8% increase from 896 new listings in June 2024. The median home prices issued by may exclude many, or even most, of a market's homes. The price and volume represent only single-family homes, condominiums or townhomes. They include existing homes, but exclude most new construction as well as pending and contingent sales. In Massachusetts, median home prices were $799,450, a slight decrease from May. The median Massachusetts home listed for sale had 1,870 square feet, with a price of $444 per square foot. Throughout the United States, the median home price was $440,950, a slight increase from the month prior. The median American home for sale was listed at 1,852 square feet, with a price of $233 per square foot. The median home list price used in this report represents the midway point of all the houses or units listed over the given period of time. Experts say the median offers a more accurate view of what's happening in a market than the average list price, which would mean taking the sum of all listing prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high price. The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu. Our News Automation and AI team would like to hear from you. Take this survey and share your thoughts with us. This article originally appeared on Gardner News: Worcester County home listings asked for more money in June Solve the daily Crossword

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store