Next to the Canadians, Chinese buyers represented the second largest group of international buyers of U.S. property, based on the National Association of REALTORS® 2013 Profile of International Home Buying Activity, which captures transactions of respondents in the 12 months ended March 2013.
Approximately 53 percent of reported purchases by Chinese buyers were in California. About 92 percent of reported purchases were in urban and suburban areas. According to information from Realtor.com ® based on access to the website, the five markets of greatest interest to potential Chinese buyers are Detroit, Los Angeles, Irvine, Las Vegas, and Orlando.
Other information about buyers from China:
- Buyers purchased an even mix of detached single-family and multifamily homes;
- 52 percent purchased in a suburban area and 40 percent in a central/urban city;
- The median price was $425,000;
- About 69 percent of purchases reported as all-cash purchases.
There is a good chance of having a foreign buyer, whose expectations and needs may differ from those of U.S. buyers. The site http://www.realtor.org/global provides a substantial amount of information that may be of help to REALTORS® not experienced in dealing with international clients.