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Chinese invest abroad property
Brief:Chinese citizens is due to the difficulty in buying at home as there is an ongoing campaign to prevent real estate.
According to a new report conducted by real estate consultants Colliers international, as to date, Chinese mainlanders make up 20-40 per cent of foreign property investors in London, Toronto, Vancouver, and Singapore.

Based on public transactions and data, report stated that currently Chinese investors own 30 per cent of Singapore's private residences.

Up to the end of 2011, Hong Kong investors and main land Chinese have bought up 20 per cent of the new projects in Central London.

Colliers predicts that as the increasing demand from mainland Chinese will provoke an increase in property areas in prime areas of central London as well as in high-end traditional residential neighborhoods by five to ten per cent in 2012.

This new surge in abroad real estate investments by Chinese citizens is due to the difficulty in buying at home as there is an ongoing campaign to prevent real estate speculation by stopping individuals from buying multiple homes.

The report also said that there is an increase of young Chinese buyers investing in luxury properties or bigger apartments in Canada as opposed to one or two bedroom flats.

OPP
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