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Chinese homebuyers fuelling US foreign sales

They have spent US$22b on property in the year through March, up 72%

Chinese buyers paid a median of US$523,148 per transaction, compared with a US median price of US$199,575 for existing-home salesĀ - PHOTO: REUTERS

[LOS ANGELES] Henry Nunez, a real estate agent in Arcadia, California, met with so many homebuyers from China that he bought a Mandarin-English translation app for his phone.

The US$1.99 purchase paid off last month, when he sold a five-bedroom home with crystal chandeliers, marble floors...

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