Yuan drop risk boosts appetite for property abroad in China
Chinese investors are looking to increase their offshore investments in the next two years to hedge against the risk of a falling yuan with real estate being their favourite asset, according to China’s Juwai.com.
The site, a platform for Chinese investors looking to buy property globally, said that a stable growth outlook for the Chinese economy and a limited impact from recent capital controls imposed on personal finances ensure strong interest on outbound Chinese property investment.
“In fact, 60% of China’s high net worth individuals (HNWIs) plan to invest in overseas property over the next three years – that means approximately 800,000 Chinese real estate buyers are looking to purchase overseas,” said Juwai.com, citing figures from The Hurun Research Institute.
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