Wealthy mainland Chinese are increasingly shifting their attention and capital away from the US to other real estate markets amid rising geopolitical tensions between Washington and Beijing, according to property agents.
In 2024, Chinese buyers’ demand for homes that cost more than US$5 million moved to Thailand, Australia and Canada, respectively, according to data tracked by Juwai IQI.
By comparison, the US in 2023 was the top choice among Chinese buyers, according to the property portal, which has a network of over 50,000 real estate professionals across more than 30 countries.
“Geopolitical friction, protectionism and increased scrutiny of property deals have discouraged some buyers,” Juwai IQI co-founder and group chief executive Kashif Ansari said.
“Chinese investment in US homes has dropped more than 50 per cent from its peak in 2017,” he said. “Buyers are looking for friendlier alternatives.”
