JLL: Record Chinese Buying Tip of Iceberg

CHICAGO—Chinese investors began pouring a lot of money into overseas commercial real estate during 2013, purchasing properties worth $7.6 billion, an increase of nearly 125% over the previous year, according to data just released by Chicago-based Jones Lang LaSalle. In 2012 and 2011, Chinese investors spent $3.3 billion and $2.9 billion, respectively.

The New York and London markets attracted the most capital. Chinese investors spent about $2.9 billion on New York property in 2013, up from about $200 million in 2012, and a little more than $2.1 billion on London real estate. As reported in GlobeSt.com late last year, Chinese interest in US real estate has grown, with a lot of interest also shown in Los Angeles and San Francisco. Chicago, however, has not attracted much of this investment since Chinese investors have not yet gotten familiar with the city.