Chinese reign as the biggest foreign buyers of US property for the fourth year in a row, reports Yicai Global on HuffPost (26 July 2017). According to a report from the National Association of Realtors (NAR), Chinese buyers spent $31.7 billion on US residential property, a 16 percent increase from the $27.3 billion invested on American homes last year. The report also revealed that nearly 70 percent of Chinese buyers made all-cash purchases, as they cannot apply for a US loan. “It is very difficult for Chinese buyers to apply for a home loan. Very few banks offer such services. Some leading US banks no longer extend loans to international home buyers as the country seeks to control foreign home purchases and prevent such purchases from pushing up local prices,” said Tracy Wu, Head of China Engagement at international property website, who is also a licensed US realtor.