Over the past few years Chinese investors have targeted major coastal cities such as San Francisco and New York City, but an article in Housingwire.com highlights a change in preferences due to these markets failing to produce significant returns.
Now a second wave of investors from China has begun to alter their investment strategy. Thanks to greater access to information and data, these investors have discovered that assets with higher yields are to be found well away from these major cities. Originally, these primary and often prestigious markets had been targeted because they were often familiar vacation destinations, or investors already had friends or family living in these areas. Foreign investors looking to purchase in the cities were after property for vacation use, or that they could leave to their children or simply as a safe haven from the Chinese economy.