Foreigners have been gobbling up Chinese bricks and mortar this year. For example, 12,000 Hong Kong buyers purchased property there in the first half of 2009, up 23 per cent on the same time last year analysts say.
We may expect China's rich to return the favour when their government gives them the go-ahead to buy property abroad. The Middle Kingdom has 825,000 individuals with 10 million yuan to their name, enough to make each a Sterling millionaire in Britain. The Hurun Wealth Report reveals they spend half of their money on housing.
The Chinese like buying property, because they consider it a safe, long term investment. When the Chinese are given the green light to invest overseas, analysts say the HNWI's will focus on luxury homes in big cities like London, New York and Paris, university towns where their children study, and investment hotspots, including the Middle East.
(All The World's a Home : Global Property News)
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