Government rulings force chinese to buy overseas property

Chinese property investors are looking abroad in increasing numbers as new statistics show that official sanctions to cool the country’s real estate market are taking hold.

More and more Chinese cities are reporting lower or unchanged property prices with home values in August down on July, according to the latest figures from the National Bureau of Statistics (NBS), as government efforts to cool the Chinese property market appear to be working.

And the Chinese government has also started to prepare home-purchase restrictions in second- and third-tier cities to prevent price increases.

Sherry Madera, managing director of property investment firm Five Continents Property, said that despite this Chinese investors' demand for property would not stem…and that in fact it would drive more to look overseas.

Source: OPP.org.uk