China's richest people plan to invest in housing abroad -- three US cities are their top choices

Getty Images More than 60 per cent of China’s richest people plan to invest in properties abroad in the next three years, with three American cities – Los Angeles, San Francisco and Seattle – topping their list of destinations, a report shows. Many of the nation’s wealthiest residents were looking to invest their money in foreign properties and live abroad in response to the fall in the value of the Chinese yuan and an overheated domestic property market. About 56 per cent of China’s r...