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Chinese and Russian property investors pricing expat investors out of the market
| Published: | 29 Jan at 6 PM |
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Wealthy Chinese, Singaporean and Russian property investors are beating expat investors to the best buys in major world capitals.
With more millionaires than in any country except the USA, and a rapidly expanding number of would-be migrants, it’s no surprise that nowadays the Chinese are the most sought-out property investors in the world. Around 50 million Chinese are estimated to be living outside the country, and those still in China are looking at the big picture as regards investments.
Foreign investors are being offered multiple mortgages at low interest rates, and the majority are buying to let. The US, Canada, Australia and New Zealand are the most popular, with the UK also getting its share of overseas buyers, as witnessed by soaring apartment prices in the capital.
For Russian and Chinese investors, the ‘safe haven effect ’ is another reason for property investment overseas, and the chief factor for many of the two countries’ wealthy nationals. For Chinese not quite in the millionaire class, the UK developer Barratt Homes’ Beijing office is a regular destination, with mid-range UK residential properties the main draw.
According to the CEO of Barratt Beijing, almost half of their emerging middle class buyers in the so-called Middle Kingdom are looking to emigrate. Education for their children and their own security are the reasons, and it’s bad news for UK expats wishing to invest their retirement nest-eggs in the safer financial environment of their home country.
With more millionaires than in any country except the USA, and a rapidly expanding number of would-be migrants, it’s no surprise that nowadays the Chinese are the most sought-out property investors in the world. Around 50 million Chinese are estimated to be living outside the country, and those still in China are looking at the big picture as regards investments.
Foreign investors are being offered multiple mortgages at low interest rates, and the majority are buying to let. The US, Canada, Australia and New Zealand are the most popular, with the UK also getting its share of overseas buyers, as witnessed by soaring apartment prices in the capital.
For Russian and Chinese investors, the ‘safe haven effect ’ is another reason for property investment overseas, and the chief factor for many of the two countries’ wealthy nationals. For Chinese not quite in the millionaire class, the UK developer Barratt Homes’ Beijing office is a regular destination, with mid-range UK residential properties the main draw.
According to the CEO of Barratt Beijing, almost half of their emerging middle class buyers in the so-called Middle Kingdom are looking to emigrate. Education for their children and their own security are the reasons, and it’s bad news for UK expats wishing to invest their retirement nest-eggs in the safer financial environment of their home country.
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