the value of offshore property investment by Chinese buyers expected
“More and more Chinese tourists are picking Hawaii as their holiday destination of choice and this is expected of a property market in the US that is currently experiencing a boom,” said Weinreb.
According to a research report released by Jones Lang LaSalle early this year, Chinese offshore property investment had increased 46 percent to a record high of $16.5 billion in 2014 compared to the year before. China has also emerged as one of the top five places in the world in terms of cross-border capital flow, largely due to a surge in overseas investments in property markets.
Statistics also show that Chinese investments in overseas properties have surpassed those in the domestic real estate market, and experts expect this trend to continue.
“The value of offshore property investment among Chinese buyers will probably reach $20 billion in 2015,” said David Green-Morgan, research director of global capital markets at Jones Lang LaSalle.
“The easing of restrictions over the last few years by the Chinese government has made it much easier for institutions as well as individuals to move money overseas,” added Green-Morgan.
To cater to the rising demand by Chinese investors, foreign property developers have specially included features such as shopping malls, supermarkets and other amenities to their residential properties.
“We are including an extraordinary amount of lifestyle options, such as health and wellness facilities, to help balance these neighborhoods, which are more like a mini countries rather than just a residential block of apartments,” said Weinreb.