According to to recent data released from Juwai.com, Houston – home to over 70,000 Chinese immigrants – has become one of the top 10 cities of choice for Chinese buyers in the US, reports Houston Chronicle (13 December 2013). Climbing up to rank No. 5 on the list, Houston slips into place right behind New York, Los Angeles, Philadelphia, and Detroit. Other cities that made the cut behind Houston include Chicago, Las Vegas, Atlanta, San Diego and Memphis Tennessee. The fastest growing segment of international buyers in the US property market, Chinese buyers spent $8.2 billion on US real estate in 2012 alone. Juwai cites vast educational opportunities for children, under-priced markets, and the desire to diversify investments as the driving factors behind the current wave of Chinese buyers. The survey by Juwai also revealed several Chinese investor's purchasing patterns: many prefer homes near educational institutions, properties with water views, as well as homes located within a short distance from friends and families.
