Chinese real estate developers have begun investing in projects outside of the country in order to meet growing demand for overseas property among rich customers, Hong Kong’s South China Morning Post reported today. (See link here.)
Buyers are looking overseas because of restrictions on real investments in the mainland, or because of a wish to emigrate or own a vacation home, the newspaper said. Among the companies involved are Dalian Wanda Group, led by billionaire Wang Jianlin, Hong Kong-listed Country Garden, controlled by billionaire Yang Huiyan, and state-owned builder China State Construction Engineering Corp. Buyers are reportedly purchasing spots in Nassau, Australia and Malaysia. The articles were published in a property section of the newspaper that itself highlighted an advertisement for real estate for sale in London.
Besides the Chinese developers, the trend may benefit international real estate brokerages such as Savills and CBRE that are established in China and can pair Chinese buyers together with overseas sellers. (Click here for a related article.)
China isn’t likely to ease real estate restrictions greatly in the new future, Bank of Communications executive director Hong Hao said in an interview earlier yesterday. (Click here for the full interview.) That, along with a perception among many well-off Chinese that political and economic risk is on the rise in the country, suggests mainland real estate developers targeting customers looking to move money overseas should see good business for at least the near future.
Buyers are looking overseas because of restrictions on real investments in the mainland, or because of a wish to emigrate or own a vacation home, the newspaper said. Among the companies involved are Dalian Wanda Group, led by billionaire Wang Jianlin, Hong Kong-listed Country Garden, controlled by billionaire Yang Huiyan, and state-owned builder China State Construction Engineering Corp. Buyers are reportedly purchasing spots in Nassau, Australia and Malaysia. The articles were published in a property section of the newspaper that itself highlighted an advertisement for real estate for sale in London.
Besides the Chinese developers, the trend may benefit international real estate brokerages such as Savills and CBRE that are established in China and can pair Chinese buyers together with overseas sellers. (Click here for a related article.)
China isn’t likely to ease real estate restrictions greatly in the new future, Bank of Communications executive director Hong Hao said in an interview earlier yesterday. (Click here for the full interview.) That, along with a perception among many well-off Chinese that political and economic risk is on the rise in the country, suggests mainland real estate developers targeting customers looking to move money overseas should see good business for at least the near future.
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