Wealthy Chinese with a few million yuan to burn will spend billions on U.S. real estate in the years ahead, according to a report released Wednesday by CB Richard Ellis, a large global real estate firm.
The United States is the country of choice for China buyers. ?Canada and Australia come in next at No. 2 and No. 3 respectively.
All told, Chinese real estate investors are seen dishing out 1.1 trillion yuan, or $178 billion, buying up properties abroad in the years ahead, be it residential or commercial properties.
Chinese insurance firm Ping An bought the Lloyds of London building in the U.K. this week for a cool $387 million.
Source: http://www.forbes.com/sites/kenrapoza/2013/07/10/chinese-to-spend-billions-on-american-real-estate/
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