California is turning out to be the most popular of US destinations for Chinese property investors, outranking New York with over 20% more buyers, reports CapitalWatch (12 October 2020). The National Association of Resltors (NAR) recently reported that 35% of China’s US$15 billion residential real estate investments in the US are now in California, as compared to just 14% in New York. Other top US destinations preferred by Chinese investors are North Carolina, Virginia, New Jersey, Texas and Ohio. According to the NAR, Chinese investors have typically concentrated on New York City and its suburbs, but rising prices and China’s recent increased capital controls have made the Sunshine State more desirable. But Juwai IQI Executive Chairman Georg Chmiel maintains that Chinese buyers still remain the most significant foreign buyer group in New York City. “However, the number of foreign buyer transactions has decreased in 2020 due to the practical challenges imposed by travel bans and lockdowns. The Chinese believe long-term in New York’s market and that transactions will climb as the COVID-related restrictions are lifted,” he added.