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Wealthy Chinese could invest 1.1 trillion yuan in overseas real estate
Wealthy Chinese are lining up to invest as much as 1.1 trillion yuan (US$179 billion) in real estate markets overseas, according to international property consultancy CBRE.
By 2012, there were over 700,000 Chinese with investable assets of over 10 million yuan (US$1.63 million), and CBRE research estimates that about 5% of their investable assets could be allocated to overseas real estate markets.
The United States, Canada and Australia are expected to remain the main choices for Chinese investors because of the available supply, lower prices, and lower likelihood of policy regulations covering inbound investment in local properties.
Wealthy Chinese are drawn to overseas property due to a desire to diversify wealth, emigration and children's education.
The subdued performance of the Chinese stock markets, government curbs on the residential property market and continued appreciation of the yuan have supported the trend as well.
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