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The question, though, is what kind of properties are they looking for?
70% of China’s high net worth individuals (HNWIs) tend to invest in overseas properties to live in, while one-third of wealthy Chinese purchase for investment purposes.1
For those with more than one property abroad already, 90% of ultra-wealthy Chinese generally use their first investment as their primary residence, while 41% would invest in a second property as their holiday home.
Subsequent property investments would then mostly fall under a medley of other purposes, including investment rentals and idle investments.2
In terms of property types, detached villas reign at the top as the most preferred choice when property hunting overseas.1
Apartments and condominiums come in as a close second, while townhouses – sometimes referred to as terraced houses – follow up as their third choice on the list.1
When lifestyle property comes into play, however, their investment choices are skewed heavily based on their leisure preferences.
Think waterfront mansions, ranches, luxury villas, castles, and vineyards – some which can be seen here on the top exotic destinations favoured by Chinese buyers as well as the most expensive listings currently on Juwai.com recently reported by CNBC.
Some Chinese HNWIs, however, are upping the ante and taking it one step further – they’re snapping up whole islands as their very own private getaway.
After all, every super-rich Chinese is undeniably passionate about their reputation and status, thanks to China’s face culture.
What better way to flaunt success and wealth than by owning an entire island?
From the exotic islands in the Caribbean to the to far-flung islands in the South Pacific, this rising trend of owning freehold overseas islands in recent years is fast gaining popularity amongst China’s elite – and so far shows no signs of waning.
Leading the charge is Chinese millionaire Lin Dong, who now owns over 30 islands over his past 9 years of island hunting.
Lin Dong is also the founder of the first association of island owners in China – an exclusive group of 50 Chinese moguls and magnates who travel around the world together on their quest for more island investments.3
And most recently, they’ve set their sights on Fiji, Tuvalu and Tahiti, where the stunning island offerings are available for a price that ranges from US$5.4 million to US$25 million.3
The fast-growing and powerful Chinese market is so dynamic that its fluid evolution keeps us – and the world – on our toes. Recently it was space exploration, now island ownership. Only time will tell what’s next.
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