Rich Chinese Buyers Are Intrigued By U.S. Coastal Cities

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July 18, 2017

For the third straight year, a survey of Chinese individuals worth between 10 million and 200 million yuan, or $1.5 million and $30 million, found that the U.S. is the top foreign country to buy property.

CNN Money reports that Los Angeles, New York, San Francisco and Seattle are among the top global cities for immigration and property investment for wealthy Chinese buyers.

Canada is the second-most popular country for these buyers, and the U.K. is third. "Living environment" was one of the top reasons as to why respondents said that they wanted to emigrate elsewhere.

But, exorbitant wealth may be fleeting.

A whopping 84% of respondents -- an increase of 50% over last year -- said they worry about the devaluation of the yuan, which fell to its lowest level in eight years in November before recovering slightly in the first half of 2017.

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