International Real Estate Companies Compete For Chinese Investors
An "Go To China" will be the stage for the first (China) World Real Estate Exposition in Shanghai, to be held in October 2011. This year's Exposition will be held in the Expo Pavilion; we expect over one hundred overseas real estate projects to be showcased in China.
As one of the main organizers, Managing Director, Chong Nok of SouFun International has announced to the media the arrival of overseas real estate in China.
With China's rapid economic rise, buying properties overseas has become one of the latest investment ideas for the Chinese. Coupled with the Chinese government imposed restrictions on the domestic real estate purchases, loans and many other severely limited control policies, this situation has prompted the Chinese people to purchase overseas investment properties.
According to foreign media reports from Vancouver, Canada and Brisbane, Australia, the Chinese buyers have become the largest local real estate investor groups. In luxury residential areas of London and Manhattan area of New York, Chinese buyers have become the most welcome clients to local Real Estate Companies.
During the past 6 months SouFun International has organized several overseas investor tours producing real estate sales totaling over Five Hundred Million RMB. According to China Real Estate Index Authority, the data shows that in the next three years China will have more than 50 Billion U.S. dollars access to overseas; to invest in real estate projects worldwide will be the first choice.
The upcoming (China) World Real Estate Expo will be organized by SouFun, the world's largest Chinese real estate portal - SouFun and the Shanghai World Expo Group exhibition jointly organized by the Dong Hao Exhibition, with seventy million people of Shanghai World Expo Center – this will set up a business foundation between overseas real estate companies and
It is reported that already from the United Kingdom, Canada, the United States, Australia, New Zealand, Japan, Singapore, Malaysia, Thailand and Spain; dozens of overseas real estate companies have already registered.
From United Solutions of America, a Real Estate Developer from Florida, USA; Mr. Ray Piel has brought land to the exhibition to prepare for the auction. This land is near Miami and ready to build a home on it. The land comes with permanent ownership rights and can be purchased for more than Ten Million RMB. This land will be very popular with the Chinese people because they can own it for ever, something is not available in China today.
London's Real Estate Investment Company Miss Xu Zhi has been engaged in working for the business of Chinese to buy UK real estate. In the past two months, she has received more than ten Chinese wealthy buyers. Xu Zhi will lead more than ten British real estate companies to come and participate in the exhibition. She thought it was a great opportunity for overseas companies to come to the Chinese market.
It is understood that citizens of Shanghai will be able to invest directly into overseas properties. According to the Shanghai program, individuals will be able to directly invest in foreign property and it is designed for non-financial foreign exchange investment, rather than the RMB foreign direct investment, real estate investment is not prohibited. Even in many of the industry view, is precisely the focus on encouraging investment directions. From this, a new round of overseas home buyers will explode, which may explain why so many international companies come to China to compete for the Chinese buyers.
Chinese buyers wanting to become "the world's landlords” have attracted the attention of overseas media, and even two very different voices. Some people think that the emergence of Chinese buyers, like "crying wolf", they hold a lot of cash, buying luxury, is bound to push up local prices, which already has a precedent in Hong Kong - said Hong Kong authorities that are also discussing whether to restrict foreign people in the local buyers.
By the Chinese mainland investors a strong push on the property market, housing prices in Vancouver in 2010 shot up 12%. Another voice is that the arrival of Chinese buyers, in fact, for the world to make a contribution to economic recovery. Europe and North America real estate market downturn continues, many real estate developers and banks expect the arrival of Chinese buyers. Mr. Chong Nok, Managing Director of Soufun International believes that this is the era of trade liberalization, the flow of capital is very normal.
China has more than three trillion U.S. dollars of foreign exchange reserves, Chinese buyers to the world is an inevitable trend. Originally immigration, pension, and children overseas to study home-based behavior, has evolved into investment real estate as an important component of asset allocation. Mr. Chong Nok has planned many overseas tours in Australia, Britain Malaysia's activities overseas buyers welcomed by local real estate agent. As he forthcoming first session of the (China) World Real Estate Expo slogan: "China Wealth World Shares”.
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