Chinese investment in U.S. real estate last year declined by more than half, according to a Cushman & Wakefield report.

The year 2017 saw a 55-percent plunge when compared to volume in 2015 and 2016 as Chinese investors spent only $7.3 billion on real estate throughout the United States, compared to 2016’s $16.2 billion.

The decline reflects the recent capital investment limits set by the People’s Republic of China on foreign investment deals topping $1 billion.

The report added that volume of deals transcending $1 billion freefell 75 percent last year while deals under $250 million dipped 12 percent.

With Chinese investment plummeting, Canada and Singapore returned to top the list of foreign investors in U.S. real estate.

Locally, Chinese investment activity in the last six months has included Pasadena-based Uhon, a subsidiary of Guangdong-based Shenzhen Yuhong Investment Group Limited Co., partnering with Tarzana’s Gelt on the upcoming, 250-unit Watermark apartments in Reseda; and Shenzhen-located company Gemdale Group’s purchase of the Madison apartments at Westfield Valencia Town Center in Santa Clarita for $45.9 million (over $353,000 per unit) through its American arm, Pasadena-based Gemdale USA.