Chinese investors are increasingly in the know come time to
select the next best real estate market, with a new report on their preferred
U.S. locations offering Canadian investors a roadmap.
The report, published by property consultancy Cushman &
Wakefield, shows that, between 2008 and 2014, institutional Chinese real estate
investors in the U.S. have focused on New York, with $6.7 billion invested.
The other American states making the list are California
($1.6 billion), Illinois (362 million), Texas (305 million), Maryland (150
million), New Jersey (140 million), Arizona (133 million), Florida (95
million), Washington (44 million) and Delaware ($42 million).
Canadian investors are expected to turn to the U.S. market
in a big way with the decline of the loonie against the dollar, which comes
after a period of currency parity that eroded snowbird interest in U.S.
properties.
While their traditional haunts have long been California,
Florida and Arizona, Canadian investors should perhaps follow the in-the-know
Chinese investors in embracing other hot spots in the U.S. market.
Written by Jennifer
Paterson
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