Las Vegas in top 10 U.S. cities for Chinese homebuyers this year

Las Vegas is one of the most popular cities in the country for Chinese real estate buyers, according to a report from a Chinese international real estate website.

Juwai.com, an international property portal for Chinese, scrutinized data to rank the top 10 cities in the US where Chinese searched for property this year.

Las Vegas was number 7 on the list, behind New York, Los Angeles, Philadelphia, Detroit, Houston and Chicago. 195,000 Asians live in Nevada, making it fifth among US states in percentage of Asian population.

About 70 percent of mainland Chinese buyers pay cash. Mainland Chinese buy more expensive homes than other buyers. Their spend a median of $425,000, while the median price across the U.S. is $199,500. About 70% of them pay cash, reports the National Association of Realtors.

"Chinese investors are motivated by historically low prices, education for their children and investment diversification," said Andrew Taylor of Juwai.com.

Juwai.com's list ranked these as the top 10 US destinations for Chinese buyers:

New York
Los Angeles
Philadelphia
Detroit
Houston
Chicago
Las Vegas
Atlanta
San Diego
Memphis, Tenn.