A report from the National Association of Realtors of the US, which tracks property purchases across the country, said that in the 12 months to the end of March 2015, Chinese buyers spent $28.6bn on mostly residential property in the US. This is a 30 per cent increase from the previous year and more than two and a half times the amount spent by Canadians. The favourite Chinese investment destination in the US was California, accounting for 35 per cent of all purchases, followed by Washington state, New York, Massachusetts, Illinois and Texas. About 70 per cent of Chinese purchases were reported as all-cash.