Chinese Investors Shouldn’t Be Allowed to Buy US Properties: DeSantis

Chinese Investors Shouldn’t Be Allowed to Buy US Properties: DeSantis

Florida Gov. Ron DeSantis warned about China’s malign influence in the Sunshine State after reports showed that Chinese investors have spent billions of dollars buying U.S. farmland and other real estate.

Calling China the United States’s “No. 1 adversary,” DeSantis told Fox News on July 23 that companies linked to the Chinese Communist Party (CCP) shouldn’t be allowed to buy U.S. properties.

“I don’t think they should be able to do it. I think the problem is these companies have ties to the CCP, and it’s not always apparent on the face of whatever a company is doing—but I think it’s a huge problem,” he said.

Foreign buyers from China spent $6.1 billion, more than from any other foreign country, on U.S. homes from April 2021 to March,  according to a recent report from the National Association of Realtors (pdf).

Chinese buyers spent an average of more than $1 million per transaction—the highest average among foreign purchases—and up from the $710,400 average from the year before. California was the top destination for their purchases with 31 percent, followed by New York (10 percent), Indiana (7 percent), Florida (7 percent), Oklahoma (5 percent), and Missouri (5 percent).

The report also pointed out that 58 percent of Chinese buyers made all-cash purchases, the third highest behind Canadians (69 percent) and Colombians (65 percent).

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