San Francisco most sought after location for Chinese buyers

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San Francisco is the most sought after location for Chinese buyers looking to buy properties offshore, attracted by its sound economic foundations, quality education opportunities and existing presence of the Chinese diaspora, a study has found.

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Peggy Sito

Published: 10:00pm, 14 Apr 2015Updated: 2:34pm, 17 Apr 2015

San Francisco is the most sought after location for Chinese buyers looking to buy properties offshore, attracted by its sound economic foundations, quality education opportunities and existing presence of the Chinese diaspora, a study has found.

"Affluent Chinese property buyers are becoming an increasingly significant demographic," online real estate marketing and data services company Propgoluxury.com said in a report. It based its finding on searches for properties valued at HK$10 million or above by visitors to its website in the first three months of this year.

San Francisco, which ranked seventh in the survey in the fourth quarter of last year, was the most sought after location for Chinese buyers, with London, Tuscany, New York and Paris rounding out the top five.

The portal did not unveil the number of searches.

Ten of the top 20 locations were in North America, the survey found, with most Chinese-speaking international luxury real estate consumers tempted by US cities. For example, Taiwanese accounted for 15.58 per cent of searches for properties in San Francisco, with 6.93 per cent from Guangzhou and 6.11 per cent from Hong Kong.

Hong Kong, which topped the list in the previous quarter, fell to seventh place but remained the most sought after location in Asia.