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Chinese people invest more in real estate abroad

English.news.cn   2011-04-11 13:39:27 FeedbackRSS

BEIJING, April 11 (Xinhuanet) -- In recent years because of the impact of property-purchasing limitations and other control measures, more and more people are considering investing in real estate overseas. At the Beijing Spring Real Estate Trade Fair, international real estate exhibitors from more than twenty countries and regions including the US, Australia and Britain have been showing off their projects.

Control measures on real estate have stimulated many Chinese people's interest in investing in real estate abroad. Because of current control policies, 30% of home buyers have turned their attention from the domestic market to overseas. Statistics show investors from the Mainland and Hong Kong account for 10.8% of the share in the market of new homes in the US. At this year's Beijing Spring Real Estate Trade Fair the number of overseas real estate projects accounted for 40%, an all time high.

Visitor of Beijing Spring Real Estate Trade Show said "This is my first time of coming into contact with real estate investment abroad. So I’m not clear about this. I want to know whether there is the possibility of investment or not."

Because of the advantages of the stable market and permanent property, investment in overseas real estate has become more and more popular among Chinese home buyers in recent years. In Australia for example where Chinese investors most like to invest in real estate, generally speaking, in most areas the price of a house is 20,000 yuan per square meter. This is close to the current average house price in some regions of first-tier cities in China. Chinese people only need to provide proof of income to buy a house with permanent ownership from loans in Australia.

Exhibitor of Beijing Spring Real Estate Trade Show said "Overseas real estate projects are very complex, including pure real estate, investment, study abroad, immigration projects and so on. When you want to invest abroad, you should pay attention to understanding the local laws on real estate, tax policies, management costs after investment and others. You should select according to your needs and avoid investment traps."

Now buying international property through real estate agents has become a major way of investment. Experts say some people consider purchasing overseas real estate as basic investment behavior, but some people purchase without on-the-spot investigations, so there will be some risks.

The falling price of buying houses abroad, and increasingly convenient conditions, are leading more people to purchase international property. But this kind of investment also brings along some risks, so buyers need to evaluate thoroughly, and decide wisely.

(Source: CNTV.cn)

 

Editor: Liu
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