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People and funds surge out of China
By Juwai, 27 May 2013
The number of Chinese purchasing property in Western countries and transferring their money out of China has been increasing significantly since 2011.
Chinese buyers are snapping up real estate around the world:
- In the US, Chinese are the second-largest group of overseas buyers of real estate. They spent US$9 billion on real estate, accounting for 11% of international sales in 2011, up from 5% in 2007.
- In Australia, Chinese are also the second-largest group of overseas buyers, spending A$4.09 billion on real estate in 2010-2011.
- In Canada, there's been an upward trend in Chinese investors purchasing real estate over the last 20 years. Chinese buyers in Vancouver have increased to 40% of total buyers in 2012, up from 29% in 2011.
- In the UK, Chinese spent £120 million on real estate purchase in London, according to a Knight Frank survey released in June 2011.
More than 150,000 people emigrated from China in 2011, according to China's International Migration Report (2012).
Read more on The Epoch Times.