An increasing number of Chinese investors are buying real estate in other countries.
CGTN’s Frances Kuo has more on the growing appeal.
Growing demand among Chinese buyers for overseas real estateChinese investors don’t just have their sights set on the United States. They’re also buying real estate in other countries. CGTN’s Frances Kuo has more on the growing appeal.
Kaiwen Zhang is the face of a burgeoning trend. The Chinese investor has already bought two apartments in Thailand. He lives in one in Bangkok and rents out the other on the resort island of Phuket.
Demand is also likely to grow with many Chinese businesses opening factories in Thailand, creating a market for second homes for executives.
In Moscow, luxury properties are luring more Chinese buyers. At a development project in central Moscow, Chinese investors snapped up about 10 percent of the units.
One attraction is that residential properties in Thailand are relatively cheap compared to Europe.
But Chinese investors are facing some obstacles when buying properties abroad. The Chinese government is tightening regulations on purchasing foreign currency used to invest in real estate, which has slowed overseas buying.
Wan Yunke was planning on buying a house in Thailand, but he’s finding it more difficult now.
Real estate agents abroad are also noticing the impact.
One strategy that’s becoming popular among Chinese investors is crowdfunding. It attracts capital from domestic investors and then is used for foreign investments.
Sara Hsu on Chinese investment in overseas real estate
CGTN’s Elaine Reyes spoke to Sara Hsu, an economics professor from the State University of New York at New Paltz, about the boom in Chinese buyers around the world.