More Chinese want to purchase homes abroad

Dropping property prices and the depreciation of foreign currency are fueling Chinese ambitions to buy homes overseas.

"We never expected so many people signing up to join our house-buying trip to the US in mid-January," said Vincent Mo, chairman of SouFun, the country's largest real estate and home-furnishing website.

A few days after SouFun launched the plan, over 300 Chinese have registered for the trip, far exceeding the quota of 40 people.