Amid China's economic slowdown, Chinese investors have been named the biggest overseas buyers of US real estate, according to a report from the Asia Society and Rosen Consulting Group, which was released on Monday, May 16.

The report revealed that Chinese investors have been on a shopping spree for both residential and commercial properties, with their five-year investment total reaching over $110 billion. The amount has helped China recover from its economic crisis that started in 2008, according to The Guardian. Other than China's very own economy, the investments also helped to inflate prices in other developed countries such as UK and Australia amid the plunge of the global stock market last year.

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In light of Beijing's clampdown on capital expenditures, the report predicts the figure "across existing U.S. commercial real estate assets and residential purchases" could double to at least $218 billion between 2016 and 2020.

"What makes China different and noteworthy is the combination of the high volume of investment (and) the breadth of its participation across all real estate categories," the study said.

Researchers, however, noted that their figure understates the overall investment total as some front companies and trusts do not reveal their fund sources.

Among the most notable deals are Anbang's $2 billion purchase for New York's Waldorf Astoria and its failed $14 billion offer for Starwood group.

On the other hand, the study suggested that Chinese buyers spent more on residential properties that commercial real estate. Within the 2010 to 2015 time frame, Chinese investors splurged over $17 billion on US commercial real estate while they spent at least $93 billion for US homes.

The latest figure on Chinese buyers shows that they have surpassed Canadians, who had long been the biggest spenders on U.S. properties. The study also revealed that most Chinese buyers target highly expensive markets including New York, Los Angeles, San Francisco and Seattle. This implies that Chinese buyers could relatively afford average U.S. property price at about $832,000, which is nearly twice the average of other foreign purchases at $499,600.

Tagsreal estate, overseas investment, property, Anbang, commercial property, US economy