Cash-rich Chinese buyers – spurred on by China's stronger currency and lacklustre local real estate market – have become not only the biggest real estate players in the Big Apple's luxury property market, but also surpassing Canada to become the largest group of foreign property investors in the US, says Forbes (30 July 2014). Properties abroad hold major appeal for many Chinese, who consider buying homes overseas as a good investment opportunity as well as a short-term residence for their children furthering their studies abroad. According to NAR, out of $92 billion worth of total foreign property deals transacted last year (until March 2014), $22 billion alone came from Chinese buyers – rising from a 19% share of the market in previous year to 24% this year. "Some of these guys are buying property sight unseen,” says Martin Purcell, a broker for Rutenberg Realty who markets to Chinese buyers on Based on Juwai data, however, Canada tops US as the #1 destination for Chinese buyers. Co-CEO, Andrew Taylor explains, “Chinese buyers like Canada because it is a long-term safe investment, has a large Chinese speaking population, a good educational system, and strong economic ties to China.”