Chinese Buying Spree in NYC Slashed by Half
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Chinese investment in U.S. commercial real estate is falling, an ominous sign for landlords with buildings to sell.
After several years of breakneck deals around the globe, Chinese firms are slowing down as their regulators restrict overseas investment in an effort to curb speculative purchases and keep capital from flowing out of the country. In New York City, the biggest beneficiary of the shopping spree, Chinese companies bought just $3.4 billion of properties in 2017, a 54 percent decline from the prior year, according to a report Tuesday by Cushman & Wakefield.