An unprecedented influx of Chinese money into US real estate is slowing following moves by Beijing to restrict the amount of funding leaving the country, according to a report.
In recent years a tide of Chinese money has hit global property markets, with buyers from the country now the largest single group of foreign investors in residential property in the US, UK and Australia. But after inflows of $110bn into US real estate between 2010 and 2015, investment in residential American property is expected to drop in the next two years, according to the report by the US-based Asia Society and the Rosen Consulting Group.
Following record outflows of capital last year, Chinese authorities have tightened enforcement of existing capital controls and made it more difficult for Chinese companies to invest abroad.