In 2016, Chinese buyers spent a record breaking $33 billion on commercial and residential property, a 53% increase from 2015. With the United states of America, Hong Kong, Malaysia, Austria & United Kingdom being top destinations.
Their real estate investments hit an all-time high volume, that China had to tighten its capital controls. USA was a major hotspot with up to 4 major Chinese acquisitions in the hotel industry and commercial buildings. In addition, they are also acquiring land with companies like Boyuan holdings buying 40.5 hectares of land in west Sydney for $70 million. According to Foreign investment review board annual report, the value of approval for foreign investment in Australian real estate increased 75% in 2015 financial year to $61 billion, with Chinese accounting for over two-thirds of the applications. Safe to say the new regulations may crash some real estate markets.
Some of the reason for these sudden interest in investing in real estate globally is diversification of portfolio and many who get reach quick in China's booming economy trying to get their money of out reach of corrupt government officials.
***Images do not belong to Koshila concierge unless where expressly stated. Credit to the owners, kindly contact us to take down.