Chinese invest in properties abroad

Is your high street bank overcharging you?

Chinese property investors are scouring the globe for their latest purchases, according to a new survey by global real estate firm Colliers International.

Chinese mainlanders make up a staggering 20 % to 40% of foreign property investors in London, Toronto, Vancouver and Singapore.

The number of Chinese investors looking for foreign property is on the rise. Towards the end of 2011, Hong Kong and Chinese mainlanders bought up to 20% of new property developments in central London.

The research found that the surge in real estate investments overseas by Chinese citizens was largely due to the lack of availability in their home markets.

An additional report from the firm pointed out that China’s prosperous economy could also have acted as a catalyst for foreign property investment.

The research states that: ‘Local Chinese investors' acquisition of overseas residential property has emerged rapidly as a very visible trend and is making significant impact to many 'world' cities.

‘Against the backdrop of stringent regulations targeting the domestic residential sector, the prospect of the Mainland market is not at all certain.’

Foreign property investors, who want to get a foothold in the Chinese market, may find that new government measures may hamper their purchase. The Chinese government has recently announced plans to limit mortgage loans on properties for overseas buyers.

Transfer Money to China

If you are looking to invest in China, think carefully about how you will be transferring money to China.

Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers.

If you plan to send money to China, to invest in property or for any other reason, ensure that you compare the market to secure the best rate for your overseas currency.

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