SAN FRANCISCO (CBS SF) – Chinese nationals have reportedly surpassed Canadians as the largest foreign buyers of U.S. residential real estate, snapping up nearly $100 billion worth of homes in the last few years.

According to The Guardian, a survey by the Asia Society and Rosen Consulting Group found the Chinese have invested more than $110 billion in American residential and commercial real estate between 2010 and 2015.

READ MORE: Possible Explosive Device Outside Oakland Courthouse Forces Evacuations, Street Closures

Most of the investment money, about $93 billion, went towards purchasing homes in that timeframe. The buying spree accelerated in the 12 months leading up to March 2015, when home purchases totaling $28.5 billion were recorded.

READ MORE: Fire Burns At Residential Building in San Francisco Mission District

The report found most of the home purchases were concentrated in expensive markets including the Bay Area, Los Angeles and New York. Chinese buyers reportedly paid $832,000 on average per home, far higher than the $499,000 average of all purchases from foreign buyers.

MORE NEWS: Oakland City Council: Black Contractors Not Getting Fair Share Of Street-Paving Bids

It appears to be a trend that won’t end soon. The study projected Chinese real estate investment in the U.S. (commercial and residential) to reach $218 billion in the second half of the decade.