Here's The Difference Between Wealthy US And Chinese Home Buyers
China's wealthy real estate buyers are snapping up property a lot more often than their American counterparts, according to a new report from Sotheby's International Realty, which breaks down profiles of wealthy real estate buyers around the globe.
According to the report, 96% of affluent Chinese consumers have purchased a property within the past three years. In comparison, just 54% of affluent American consumers - those who have over $2 million in assets - have bought a property.
For American real estate investors, location is also still a top priority. They prefer to live in North America, and value a property that they have designed themselves over an estate that is eco-friendly, historically significant, or with famous former owners.
The annual Sotheby's International Realty Luxury Lifestyle Report was compiled with data from a survey sent out to its affluent consumers over 25 years of age all over the world between January 28 and February 18, 2014. They also collected data from sothebysrealty.com from Google Website Analytics between January 1, 2013 and January 1, 2014. You can read more about the methodology here.