Chinese buyers aren't just investors

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Skyrocketing real estate prices in their home country have Chinese investors scouring the U.S. market for investment properties, but many wealthy Chinese citizens are also looking for homes to live in — typically in neighborhoods with good schools near established Chinese communities. In Southern California, Chinese buyers are looking for homes priced at $500,000 or less as investments, but homes priced at more than $1 million are usually bought to live in, International Business Times reports.¬†According to research by the National Association of Realtors, five countries accounted for 55 percent of home purchases by international buyers in the year ending March, 2012: Canada (24 percent of international sales), China¬†(11 percent), Mexico (8 percent), India and the United Kingdom (6 percent each). Source: ibtimes.com.