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Overseas Property Developers Target Wealthy Chinese
Brief:An increasing number of mainlanders are setting their sights on property markets overseas and overseas developers and intermediaries have been quick to recognise this trend.
An increasing number of mainlanders are setting their sights on property markets overseas.

The trend became apparent soon after the first investment restrictions were imposed on the mainland more than a year ago, according to Rebecca Shum, executive director of international project marketing at CB Richard Ellis. "They are looking for a safe place to put their money and they still believe that real estate is the best investment," she says.

Mei Wong, regional director at Jones Lang LaSalle, says the growing interest in overseas properties represents a major change in mindset for many mainland investors and it's all because of the present uncertainties in the local market.

Overseas developers and intermediaries have been quick to recognise the trend as waves of money from mainland property investors arrive on their shores.

But for mainlanders whose priority is investment, London tops the list, Wong says. "One of the key advantages compared to Australia, Canada and the United States is that non-UK residents are excluded from capital gains tax no matter whether you buy one or 100 properties," she says.  Wong foresee the present wave of investment from buyers who are a few rungs lower on the wealth ladder tailing off any time soon. They expect more mainlanders to buy properties abroad.

South China Morning Post
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