Chinese buy less U.S. real estate in 2017

Speculation that Chinese investments in U.S. real estate would plummet after Beijing enacted tighter regulations on outbound investments last August has proved correct

There was a 55 percent drop in new Chinese investment in U.S. commercial real estate in 2017 compared with the year before, as spending fell from $16.2 billion in 2016 to $7.3 billion last year, according to a report earlier this week by real estate brokerage Cushman & Wakefield.

China fell from first to third place among foreign investors in the U.S.,behind Canada and Singapore.
While investor activity has declined noticeably, established Chinese investors who already have a presence in Southern California “remain active pursuers of large high-profile offerings in this region,” property broker Jeffrey Cole of Cushman & Wakefield said.

“We still expect Chinese capital to flow into Southern California, albeit at a reduced and slower pace in the short term,” he said.

BY Roger Vincent       Vincent writes for the California News Group.

Disclaimer: for information and entertainment purposes only

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