Photo: Jeff Hester
Chinese buyers have been playing an increasingly big role in property markets around the world in the past 12 months, from Europe to Australia.
In recent weeks, authorities Down Under have announced plans to reconsider foreign investment laws in an attempt to reverse the impact of Chinese investors upon property prices. Indeed, a surge of buyers of the country have reportedly helped to push prices beyond the reach of many local house hunters.
A similar move was made recently by Canada, with a reform in regulations prompting other countries such as Romania to call for deterred Chinese investors to head to their real estate market instead.
In America, San Francisco real estate firm Kidder Matthews has teamed up with a non-governmental Chinese organisation to encourage investment in the area.
Indeed, across the whole country, China is the second biggest buyer of property, according to Center for China and Globalization and the Social Sciences Academic Press. One hotspot for Chinese investment is Detroit, which accompanied Philadelphia, New York and Los Angeles in the top five wishlist for buyers, according to one survey.
The UK is not exempt from their attentions, either. As well the well-documented …read more
Source: The Movechannel