Media playback is unsupported on your device

China's elite target New York real estate

19 August 2014 Last updated at 16:54 BST

With Chinese households getting richer, a growing number of people are investing their cash in American real estate.

Buyers from China and Hong Kong spent $22bn, 72% more than they spent the year before, snapping up high end homes from California to New York City.

Michelle Fleury reports.

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.