Chinese Investors Step Up Global Real Estate Shopping
Chinese appetite for global real estate property is on an upward bound. In the first half of 2104, global property investment reached $5.4 billion or 17 percent, according to real estate firm Jones Lang LaSalle (JLL).
As real estate outlook in China loses optimism due to tight financing and oversupply, investors in China are exploring real estate beyond their borders.
Although commercial real estate grabbed the greater chunk ($4 billion) of the $5.4 billion spent in the first half 2014, the growth has skyrocketed in residential real estate from 2013 – 84 percent higher at $1.5 billion.
London ranked number one for Chinese investors with a $2.3 billion spending, according to JLL. Other popular cities are San Francisco, Chicago, Sydney, and Madrid.
On retail investments, Chinese home buyers are grabbing homes in these hot real estate market countries: USA, Australia, Canada, and UK., according to real estate portal Juwai.com.
Also, as some southern European countries such as Spain, Portugal, Cyprus have introduced the Golden Visa program where home buyers are qualified for residency with a minimum qualified amount spent on a home purchase.
Spain is one of the most popular destinations for Chinese retirees, with its pleasant climate and attractive healthcare system.
Some other hot favourite countries for Chinese investors are Thailand, Singapore, and Malaysia. Although Thailand has been a Chinese investors’ hot favourite for long time, Malaysia is the new kid on the block and moving up on the list.
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