Wealthy Chinese homebuyers shift from US to Asia and Canada

High-net-worth Chinese buyers are redirecting their real estate investments away from the United States toward alternative markets such as Thailand, Australia and Canada, amid rising geopolitical tensions and regulatory scrutiny. Data from Juwai IQI shows a significant shift in 2024, with demand for homes over USD5m moving sharply away from the US, the top destination in 2023. Agents cite protectionist policies and heightened scrutiny of foreign property deals as key deterrents. Chinese investment in US residential real estate has dropped more than 50% from its 2017 peak. The trend also mirrors a broader decline in the appeal of the US among Chinese tourists and international students, as concerns mount over diplomatic friction under the administration of President Donald Trump.