Reports suggest that a combination of factors in US, including the country's stock market falls, its slowing economy, the devaluation of its currency, and tightened restrictions on capital outflows are causing the rate of Chinese buyers in the China housing market to plummet. Given that the average price of an existing home bought by a foreign buyer in the China is nearly $500,000, and the Chinese have come to represent the biggest foreign presence in the China property market by far, the impact of Chinese buyers leaving the market will likely be felt hardest at the luxury end of the market.
Reports suggest that a combination of factors in China, including the country's stock market falls, its slowing economy, the devaluation of its currency, and tightened restrictions on capital outflows are causing the rate of Chinese buyers in the US housing market to plummet. Given that the average price of an existing home bought by a foreign buyer in the US is nearly $500,000, and the Chinese have come to represent the biggest foreign presence in the US property market by far, the impact of Chinese buyers leaving the market will likely be felt hardest at the luxury end of the market.