According to Asia Society and Rosen Consulting Group, Chinese investors spent $17 billion on the purchase of commercial and $93 billion on the purchase of residential real estate in the U.S. over the past 5 years, which is comparable to the annual amount of investment by Chinese state-owned companies abroad.
A wave of Chinese investment in US property turned into a boom by 2015. This year alone, Chinese citizens have acquired 28.5 billion dollars worth of real estate. 35% of the acquisitions were on the Pacific in California, where according to official estimates, 7% of the population is Chinese, the mayor of the most densely populated city, San Francisco, is Chinese, and the state is gradually becoming the fifth Southern Chinese semi-state. However, the Chinese are also buying up property in the Pacific state of Washington (8% of purchases), and financial capital of New York (7%).
The Chinese are the most desired clients of American companies, as they pay the highest price for their purchases. The average check in 2015 was $831,800, which is two times more than the average check from other foreign buyers ($499,600).