Why Are The Chinese Buying As Much Land As They Can In Oklahoma? (2024)

FAQs

How much property do the Chinese own in the United States? ›

China owns roughly 384,000 acres of U.S. agricultural land, according to a 2021 report from the Department of Agriculture.

The Benefits of Buying Land in Oklahoma

Oklahoma is one of the most productive states in the country. People who buy land in Oklahoma can access lucrative agriculture, energy, and livestock industries.

So, can foreigners buy property in China? The answer is yes, foreigners are allowed to purchase property in China! The essential requirement is that you have studied or worked in China for at least one year on a residence permit. Foreigners are allowed to only own one residential property for dwelling purposes.

The U.S. is a close second, buying land from 28 countries and selling to three, following by the U.K., which bought land from 30 countries. The next three most active countries, Brazil, Australia and Ethiopia, are all net sellers of their land.

Canada accounts for the most foreign-owned land in the U.S. at 31 percent, followed by the Netherlands at 12 percent. In both Alabama and Florida, 6.3 percent of its agricultural land is held by foreign interests – only Maine, Hawaii and Washington have higher percentages.

People own most farmland. Some 2.6 million owners are individuals or families, and they own more than two thirds of all farm acreage. Fewer than 32,500 non family held corpor ations own farmland, and they own less than 5 percent of all U.S. farmland.

The total price of Oklahoma farm land is still under the national average of $3,160 an acre. The value in Oklahoma in 2019 is $1,870.

The rising values, especially in the Midwest, are due to high prices being paid for the key commodity crops of corn and soybeans, plentiful harvests in recent years coupled with low interest rates and optimism the good times will continue.

This new state law prohibits Chinese citizens, along with foreign nationals from Russia, Iran, North Korea, Cuba, Venezuela and Syria, from buying farmland or any property within 10 miles of a military installation or infrastructure such as a seaport or airport.

Do Chinese own their homes? ›

Because China is a socialist country, all land is either subject to government ownership or collective ownership. In principle, municipal land is subject to government ownership and land outside cities is subject to collective ownership. However, one can obtain the right to use the land.

There are two major methods for foreigners to inherit the estate located in China, namely notarization and litigation. In the event that there is no dispute between successors over the estate, you may bring relevant documents for succession notarization at a Chinese notary public.

Of the 1.3 billion acres of private agricultural land in the United States, foreign entities fully or partially owned roughly 40 million acres valued at $74 billion in 2021.

The United States owns over 30 percent of the nation's surface lands, and has sovereignty over the submerged lands of the Outer Continental Shelf. These lands contain critical resources: water; wildlife; recreation areas; minerals, including oil and gas; forage for grazing cattle and sheep; timber; and wilderness.

Out of all of the states, Nevada has the highest percentage of federally owned land. The federal government owns more than 80% of the state's 70,264,320 acres of land. The majority of the federal land is owned by the National Park Service.

Chinese entities owned 42,596 acres of Missouri agricultural land as of 2021 — just a little under half of the roughly 100,000 agricultural acres owned by all foreign entities, according to the Missouri Department of Agriculture.

China and the US together make up 42 per cent ($84.8tn) of global property value alone. China is home to more of the world real estate market assets (by value) than any other country at $42.7tn or 21 per cent of global real estate value, just ahead of the US at $42.1tn.

The nation's largest private landowners are the Emmerson family in California who own over 2.4 million acres. The bulk of that land is dedicated to timber in Northern California. But the most headline-worthy transaction of 2022 was the Four Sixes Ranch in Texas.

What is the most productive farmland in the United States? ›

The best states for farmland in the US include Montana, Kansas, Oklahoma, South Dakota, North Dakota, Texas, Iowa, Kentucky, Wyoming, and California. Consider factors like profitability, cost of operation, infrastructure, and availability when selecting a location.

Under the Indian Removal Act of 1830, the Cherokee, Chickasaw, Choctaw, Creek and Seminole nations – known as the Five Tribes – were forced from their ancestral homelands in the southeast and relocated to “Indian Territory,” as Oklahoma was then designated.

The Drummond family has owned the land since the 1800s. According to the Oklahoma Historical Society, the Osage county ranch dates back to 1886, when Frederick Drummond (1864-1913) came to the former Osage Nation at the age of 22.

Under Oklahoma's homestead law, property owners may exempt up to 1 acre of property in an urban area or 160 acres if it is rural (to help protect farms). It may be in more than one parcel.

Is it a good investment? Yes. Land is a tangible investment that will continue to go up in value over time. So, if a buyer purchases land today for $250,000, then in a few years, its value can increase to $400,000.

People who own real property must pay property taxes. The government uses the money that these taxes generate to pay for schools, public services, libraries, roads, parks, and the like. Typically, the tax amount is based on a property's assessed value.

The Cost of Living in Oklahoma

Oklahoma's cost of living is low in two primary areas: housing and transportation. Real estate is at a surplus within Oklahoma, making it easier for families to afford larger homes for less. Further, gas prices are exceptionally low in Oklahoma, now more than ever.

When Texas sought to enter the Union in 1845 as a slave state, federal law in the United States, based on the Missouri Compromise, prohibited slavery north of 36°30' parallel north. Under the Compromise of 1850, Texas surrendered its lands north of 36°30' latitude.

Does the Chinese government own all property? ›

There is no private “freehold” land ownership in China. All urban land in China is owned by the Chinese government and is commonly referred to as “state-owned land.” All rural and suburban land is owned by rural collectives (ie, local groups of farmers) and is commonly referred to as “collective land.”

Chinese investors are among the top foreign purchasers of residential real estate, along with Canadians, according to the National Association of Realtors. Other states have had concerns over foreign ownership of land and have made efforts to regulate it.

The Chinese company JOINN Biologics has purchased 1,400 acres of land and plans to build a massive facility to receive and quarantine newly imported monkeys, effectively establishing the county as another point along the dangerous and deadly wildlife-trade chain.

With the exception of individuals with hunting permits and some ethnic minorities, civilian firearm ownership is restricted to non-individual entities. Law enforcement, military, paramilitary, and security personnel are allowed to use firearms.

In 2021, the last full year for which Beijing's National Bureau of Statistics offers data, the average Chinese worker earned 105,000 yuan a year, the equivalent of $16,153. The average American worker earned some $58,120 a year, 3.5 times his or her Chinese counterpart — still wide but not what it was.

The answer is yes. This post was first published in CJO Family, which is committed to providing consulting services China-based cross-border family matters services, including marriage and succession. If the heir agrees to inherit, he needs to inherit the debt while inheriting the property.

In China, it is regarded as the intestate succession compared to the testate succession. If there is no will, the estate of a decedent shall be succeeded in the following order: (1) first in order: spouse, children, and parents. (2) second in order: siblings, paternal grandparents, and maternal grandparents.

The testator must handwrite the document, sign it and date it; he or she must also be witnessed by at least two persons. Chinese law also offers the possibility of a sound recorded will, which also has to be witnessed. These actions must be performed under the surveillance of a notary agency.

So, can foreigners buy property in China? The answer is yes, foreigners are allowed to purchase property in China! The essential requirement is that you have studied or worked in China for at least one year on a residence permit. Foreigners are allowed to only own one residential property for dwelling purposes.

How much money do US citizens have in total? ›

In 2018, U.S. households held over $113 trillion in assets. For context, that is over five times as much as all the goods and services produced in the U.S. economy in a single year. If that amount were divided evenly across the U.S. population of 329 million, it would result in over $343,000 for each person.

United States - Federal Government; Net Worth (IMA), Level was -20997153.00000 Mil.

China owns roughly 384,000 acres of U.S. agricultural land, according to a 2021 report from the Department of Agriculture. Of that, 195,000 acres, worth almost $2 billion when purchased, are owned by 85 Chinese investors, which could be individuals, companies or the government.

Policymakers were afraid of running out of forest land, so they decided to hold on the land they had. They figured the government could manage the land better than private interests.

Approximately 27.1% of land in Florida is owned by the federal government, leaving 72.9% of Florida's land to private ownership. The Bureau of Land Management oversees the largest portion of federally owned land in Florida at 39.7%.

Across America, subsidiaries of the church reportedly hold 1m acres of agricultural land. This is thought to include land in Nebraska, Oklahoma, Utah and Texas. Church companies are also thought to hold land outside the US, including in Canada and Brazil.

Matt Frankel, CFP and mortgage analyst for The Motley Fool, said the reason Oklahoma housing is cheap is due to a combination of factors, including a large amount of developable, flat land. “The real estate market is supply and demand, so that takes care of the supply.” But this was back in Oct.

Land is a tangible investment and an asset that keeps increasing in value over time. Land ownership provides the owner with financial security and contentment. It has been in high demand as it can generate passive income, offer opportunities to earn, and let investors double their money without high risks.

Land can be expensive to trade into and out of. There's real estate agent commissions, surveys, title insurance premiums, transaction taxes, etc. and all of these costs (those that you pay when you buy land and those that you pay when you sell it) reduce your profit.

Why is it smart to invest in land? ›

The land is always a profitable investment as you can make money off it quickly. You can either sell your land, use it to grow crops, use the land as boat storage, or lease it out. The highest and best use of land is an imperative factor that determines the value of your land.

Okmulgee is the most affordable city in Oklahoma, located about 40 miles south of Tulsa. It is a small town that is rich in nature and history. Two popular spots where locals enjoy the outdoors are the Okmulgee State Park and Deep Fork National Wildlife Refuge.

Over the last 20 years, the price of farmland per acre in oklahoma has risen by an average of 6.1% per year to $1,690 per acre as of 2019. This represents an increase of $1,090 per acre of farmland over this time period.

Average Annual Per-Capita Cost in Oklahoma

That annual cost of living translates to average monthly expenses of $3,221 per person.

Is it a good investment? Yes. Land is a tangible investment that will continue to go up in value over time. So, if a buyer purchases land today for $250,000, then in a few years, its value can increase to $400,000.

Real estate is renowned for being a profitable investment since it provides both revenue (via rentals) and appreciation over time (selling your property for a profit). If you're wondering why it is important to own land, you must understand that real estate investments are an excellent way for expanding your wealth.

Overall, it's cheaper to build a home than to buy one in California, with 13 out of the 20 counties saving you money if you decide to build your house from scratch. Budget-wise, building is more favorable in Southern California whereas Central California caters best to those interested in buying.

In general, you'll likely find it cheaper overall to buy an existing home, but that also depends on the market. A home loan is less risky than a land loan, and typically comes with a lower down payment and better interest rate.

How much money should you save before buying land? If you're buying land to build a house for you or your family to live in, you should save up enough cash to make a down payment of at least 5–10% of your building loan.

Perhaps there's a perfect property that comes up for sale and you don't want to lose it, so buying the land now and building later makes sense. From a financial perspective, it may be much more feasible to split up the investments and have time to rebuild your savings before being ready to build.

What is the best land to invest in? ›

For small investors to truly enjoy the more traditional sense of land ownership, perhaps the best options are timber farms, mineral development lands, vegetable gardens, orchards, vineyards, and recreational land.

Investing in farmland as an inflation hedge. There's one more big reason that farmland is an especially compelling investment right now: inflation. Unlike mainstream financial assets, which tend to lose value when consumer prices go up, the value of farmland actually tends to rise when prices rise.

If you're looking for a long-term investment, real estate may be the better option. There are no guarantees, but real estate tends to appreciate in value over time. If you're looking for a more passive investment, stocks may be the way to go.