InternationalMarkets & Economy

Chinese buyers, developers increase US footprint

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Chinese citizens are the most active foreign buyers of U.S. single-family housing. At the same time, more China-based developers are coming to the States to build or propose condo deals. Recent trouble associated with China’s stock market may only increase the nation’s appetite for acquiring or developing homes in the U.S. “Those (Chinese investors) who are buying U.S. real estate are doing it with a very long-term view to diversify their assets (and) provide a safe haven in case something happens at home," said John Burns of California-based John Burns Real Estate Consulting. Last year, investors from China committed a total of $28.6 billion toward single-family housing acquisitions in the U.S., according to the National Association of Realtors. In Manhattan alone, Chinese investors have doled out more than $4.7 billion for residential and commercial real estate deals so far this year, according to Jones Lang LaSalle. This total equates to 39 percent of all fo...