Wealthy Chinese turn away from US real estate as Trump amps up trade war with Beijing
A growing number of Chinese homebuyers are shifting their attention to markets like Thailand, Australia, Singapore and the UK
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.”
That trend reflects how America’s appeal as a destination for overseas tourists and international students has dimmed under the administration of US President Donald Trump.