Chinese buyers have significantly increased their investment in U.S. residential real estate, spending $13.7 billion from April 2024 to March 2025, marking an 83% increase from the previous year. According to the National Association of Realtors, this surge makes Chinese buyers the largest group of foreign investors in the U.S. housing market by both dollar value and number of purchases.
California remains the top destination, attracting 36% of these purchases, followed by Maryland and New York, each with 9%. The majority of these homes are intended for personal use, including primary residences, student housing, and vacation homes. Despite geopolitical tensions and tighter visa policies, Chinese buyers are seeking overseas assets as a hedge against China’s economic slowdown.
Kashif Ansari, co-founder and CEO of Juwai IQI, noted that Chinese buyers are more likely to pay in all cash, viewing the U.S. as a safe investment due to its stable market and good yields. The average purchase price for Chinese buyers stands at $1.2 million, the highest among foreign buyers.
Overall, foreign buyers purchased $56 billion worth of U.S. homes during this period, a 33% increase from the previous year, with a total of 78,100 properties changing hands. This represents the first year-over-year increase since 2017. However, the spending by Chinese buyers is still below the 2017 peak of $31.7 billion.
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