July 27, 2016
Chinese outbound property investment reached $17 billion during the first five months of 2016, according to a report released by Cushman & Wakefield. This placed China in second place behind the United States, which invested $19 billion in other countries.
China moved up three spots from the end of 2015, passing Canada, Hong Kong and Singapore. Chinese investors funneled approximately $10 billion into the United States, with New York City receiving $3.5 billion of those funds.
“Chinese investors’ presence in cross-border real estate is forecast to achieve 50% growth this year,” said James Shepherd, managing director, research, Greater China at Cushman & Wakefield. “With the expectation that the dollar will continue to strengthen and the U.S. economy will maintain steady growth, the prospect of even stronger Chinese interest in the U.S. market in the remainder of 2016 is viable.”
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