Depending on where exactly you are living in China, you are making a lot of money by investing in real estate, or you are losing a lot of money. Cities such as Shanghai and Beijing see a tremendous demand from buyers again and there is not sufficient supply of new homes. Potential buyers need to win in a lottery in order to be able to buy a new flat. Other (typically) smaller cities in China have much more supply of homes and real estate prices are very cheap.
Understanding how Chinese citizens think about buying real estate in their own country provides insights on how they may think about buying real estate in the US. As of now, very few Chinese are traveling overseas due to the travel restrictions. As such, many of them have decided to invest locally in real estate and try to take advantage of an increasing real estate market. And most of the savvy real estate investors are buying in major cities such as Shanghai or Beijing. Chinese love to buy real estate in cities which they can trust. This is interesting information as this trend has been very similar for Chinese who have been buying real estate in the USA. Most Chinese have been buying homes in California, New York, Boston and other major cities. Smaller cities are often ignored - even if the fundamentals of those small cities are more attractive from a pure financial investment perspective.
Chinese real estate buyers continue to show interest in good quality assets - often represented by real estate assets in prime neighbourhoods.
Read more details about the China real estate boom here in The Economist.