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Canada, UK and Singapore lure property investors
By Cherry Cao |
February 29, 2012, Wednesday
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Print Edition
Print Edition
CANADA'S Vancouver and Toronto, the UK's London and Singapore are forecast to be the most popular destinations for overseas real estate investment for Chinese mainlanders this year, according to a report released yesterday by real estate services provider Colliers International.
"Buying sentiment for overseas properties among Chinese mainland investors has been gaining strong momentum over the past few years," said Derek Lai, director of international properties at Colliers. "To date, about 20 percent to 40 percent of the foreign property investors in these four destinations are from the Chinese mainland."
Vancouver, where Chinese immigrants account for 30 percent of the city's population, is the first choice, among all Canadian cities, for mainland investors who buy properties there mainly for immigration and education, the report said.
Investors from the mainland and Hong Kong find London attractive because of the city's rising property values since 2009. The very limited new supply in downtown areas and the pound's weakness also have lured them to jointly purchase about 20 percent of the newly-built properties there. Riding on the robust demand from Chinese investors, property prices in the city's core downtown areas and its traditional high-end residential districts may rise by 5 percent to 10 percent this year, Colliers predicted.
Singapore's low mortgage rates of 1.2 percent to 2 percent, relatively high and stable rental yield of around 5 percent and a transparent transaction system also lure the investors.
"Buying sentiment for overseas properties among Chinese mainland investors has been gaining strong momentum over the past few years," said Derek Lai, director of international properties at Colliers. "To date, about 20 percent to 40 percent of the foreign property investors in these four destinations are from the Chinese mainland."
Vancouver, where Chinese immigrants account for 30 percent of the city's population, is the first choice, among all Canadian cities, for mainland investors who buy properties there mainly for immigration and education, the report said.
Investors from the mainland and Hong Kong find London attractive because of the city's rising property values since 2009. The very limited new supply in downtown areas and the pound's weakness also have lured them to jointly purchase about 20 percent of the newly-built properties there. Riding on the robust demand from Chinese investors, property prices in the city's core downtown areas and its traditional high-end residential districts may rise by 5 percent to 10 percent this year, Colliers predicted.
Singapore's low mortgage rates of 1.2 percent to 2 percent, relatively high and stable rental yield of around 5 percent and a transparent transaction system also lure the investors.
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