Having rapidly established themselves as big spending property investors in many Asia-Pacific locations over the past couple of years, the Chinese are appearing in measurable numbers in many western cities. London, New York and Paris are targets. They also like some provincial locations, including Cambridge (for studying) and Cote d'Azur (holiday homes).
A link to my Financial Times article below shows what, where and why the Chinese are buying.
This market is huge. China has 475,000 inviduals with assets worth USD1 million or more, that's the fourth largest national group of HNWIs in the world, wealth managers, the Scorpio Partnership, reveals. Despite China's tight capital controls many Chinese HNWIs squirrel money overseas, much of it into property, an asset with which the Chinese have great affinity.
We can expect more Chinese money to pour into the world's property markets over the next few years. Professional Property Services forecasts they will be the world's biggest property investors by 2020.
http://www.ft.com/cms/s/2/4cf60cf2-ed17-11df-8cc9-00144feab49a.html#axzz15LZ7fQxy
http://globalpropertynews.blogspot.com
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