The home at 4505 Cherokee Trail in Dallas’ Bluffview neighborhood offers incredible privacy, but is just minutes from Downtown Dallas. Listed for $2,800,000. Photos / Briggs Freeman Sotheby’s International Realty
Chinese are now by far the biggest foreign buyers of U.S. real estate in terms of units, dollar volume and price paid, according to a report from the National Association of Realtors, which tracks property purchases across the country.
In the 12 months to the end of March, Chinese buyers spent $28.6 billion on mostly residential property in the U.S., a 30 per cent increase from the previous year and more than two and a half times the amount spent by Canadians, the next biggest group of foreign buyers.
With the Chinese economy and real estate market slowing dramatically and a vociferous anti-corruption campaign in full swing at home, Chinese buyers have been scrambling in the past few years to buy real estate abroad.
Texas climbed the top six in investment destinations for Chinese buyers.
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For more luxury homes throughout the Metroplex, see briggsfreeman.com. Click here to see the latest in real estate news. President and CEO Robbie Briggs independently owns and operates Briggs Freeman Sotheby’s International Realty with seven offices in Dallas, Fort Worth, Uptown, Lakewood, Ranch and Land, The Ballpark and Southlake.