AS speculation mounts that China will not lift its COVID-zero policy until Q3 2023, it is fueling a new wave of Chinese investors looking to buy properties in Australia and Southeast Asia.
WeChat latest data reveal Chinese resident searches for “immigration” tipped over 130 million whilst searches for “overseas homes” registered over 8.5 million.
According to Bloomberg and the Henley Global Citizens Report’s 2022 HNWI Inflow/Outflow data, the UAE has been the main beneficiary of inflow with 4,000, followed closely by Australia with 3,500 and Singapore in third with 2,800, whilst Israel and Switzerland closed out the top five with 2,500 and 2,200, respectively. Not surprisingly Russia saw an outflow of 15,000 due to the war it started whilst Ukraine also suffered with outflow of 2,800. China’s outflow was second after Russia, at 10,000.
“Due to its size and status as the world’s preeminent trading nation, what happens in China affects every other country in the world. Today, the slowdown in the Chinese property market is leading to an increase in Chinese investment in overseas property.”