The trade war between Beijing and Washington appears to have depressed Chinese property purchases in the United States. China's own actions may also be playing a role.
prepare to meet this week, there are worries that decline in spending could extend further.
among Chinese foreign property buyers. But that's increasingly less of a sure thing amid the escalating trade tensions and China's tighter controls on money leaving the country.has been dragging on for just over a year, "Chinese buyer enquiries for US property were down in four out of the five last quarters," said Juwai.com CEO Carrie Law.
The U.S. flag flies at a welcoming ceremony between Chinese President Xi Jinping and U.S. President Donald Trump in 2017.In January 2019, the U.S. Department of State issued a travel warning on China, suggesting citizens visiting China to "exercise increased caution in China due to arbitrary enforcement of local laws as well as special restrictions on dual U.S.-Chinese nationals." China then respond by issuing ain June for Chinese citizens and companies in the U.S.
Neil Brookes, Asia Pacific head of capital partners at Knight Frank told CNBC last week that Chinese outbound capital fell 83% in 12 months, "largely due to trade wars and the government trying to stop money leaving the country."
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