LA is the top city Chinese buyers want to invest and live in, NYC comes second

Chinese investment in foreign real estate is expected to increase 50 percent in three years: report

Los Angeles /
Jul.July 07, 2018 02:31 PM
(Credit: Pixabay)

Out of any city in the world, Chinese buyers like Los Angeles the best.

Based on a recent survey of high-worth Chinese individuals looking to emigrate, LA ranked the best globally with New York City coming in second. The top five ranked cities were all American, according to Mansion Global, with London being the first non-U.S. city to make the ranking. The U.K. capital was ranked sixth, notably beating out Canadian contenders, Vancouver and Toronto.

The main reason for the U.S.’ strong favor among Chinese buyers? The report, compiled by Hurun Research Institute, claims it is the American education system. (Some U.S. schools are even turning to Chinese buyers directly to save the institutions from shuttering.)

The China-based market research firm also noted that Chinese investment in foreign real estate was forecasted to increase by 50 percent over the following three years, with individuals worth more than $1.5 million looking to increase their portfolio of overseas assets by roughly 15 percent.

At the same time, however, 2017’s results for commercial investment show a different story: as The Real Deal reported, Chinese investment fell by 55 percent year-over-year compared to 2016 due to China’s strict capital controls and increased regulations, as well as more appealing deals elsewhere. The report, which was compiled by Cushman & Wakefield, explained the drop as a decrease in hotel investments in particular.

The National Association of Realtors found that, though 2017 saw an increase in the number of Chinese investors in U.S. commercial real estate, the total volume of transactions fell by 30 percent. [Mansion Global]Erin Hudson


Related Articles

arrow_forward_ios
Queen Mary (Google Maps, iStock)
Long Beach to size up Queen Mary in wake of failed redevelopment plan
Long Beach to size up Queen Mary in wake of failed redevelopment plan
Prologis' Hamid Moghadam and 8819 E Edison Ave in Ontario (Google Maps, Prologis)
Prologis gets option on 177 more acres in Ontario Ranch
Prologis gets option on 177 more acres in Ontario Ranch
SRG's Chris Payne and Burnham Ward's Bryon Ward with rendering of New Laguna Niguel City Center (Sares Regis Group, Burnham Ward Properties)
‘Napa Valley-esque’ downtown to be built in Laguna Niguel
‘Napa Valley-esque’ downtown to be built in Laguna Niguel
LaTerra Development's Charles Tourtellotte with 4112 Del Rey Avenue (LinkedIn, Loopnet)
LaTerra buys Marina del Rey office complex
LaTerra buys Marina del Rey office complex
CIM’s Shaul Kuba with renderings of the project at 6007 Sunset Blvd in Hollywood (Getty, CIM Group)
CIM sells site of 109-unit resi development in Hollywood
CIM sells site of 109-unit resi development in Hollywood
Councilman Bob Blumenfield with 5300 N. Oakdale Ave (Dean Musgrove, iStock)
Last commercial orange grove in the San Fernando Valley slated for luxury homes
Last commercial orange grove in the San Fernando Valley slated for luxury homes
From left: Stockdale Capital Partners' Steven and Shawn Yari with 656 San Vicente Blvd
Stockdale Capital gets early green light for 140K sf medical tower near Cedars-Sinai
Stockdale Capital gets early green light for 140K sf medical tower near Cedars-Sinai
HBC's Richard Baker with  9600 Wilshire Blvd (SFA, Cornell)
Historic Saks Fifth Avenue complex in Beverly Hills eyed for redevelopment
Historic Saks Fifth Avenue complex in Beverly Hills eyed for redevelopment
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...