Posted by
OffThePeak
12 yrs ago
Mainland agents & developers go International
Article in SCMP today:
Property Players look abroad to avoid controls
Chinese measure forbid people to buy more than two homes.
This has hit the business income of property agents and developers - and many Chinese investors have plenty of monety seeking property investment opportunities.
So both agents and developers are now developing projects abroad, in places like:
+ Sydney, Australia
+ Madrid, Spain
+ Frankfurt, Germany
...and of course: HK, Vancouver, Toronto, Singapore, London, the rest of UK, the US, etc
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Yesterday, someone showed me a brochure for a Chinese company looking to raise multiples of HK$100 mn to build a retirement village - In fact, the wanted to build "5 at once, to benefit from economies of scale."
I cannot recall where they were, but I think some were outside China.
Seems like someone is trying to get hold of investors' money, before the door slams shut
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