nalah
September 18, 2010, 12:08pm
#1
nyti.ms/93CuOZ
doing this on iPhone excuse the lack of quote;
basically rich Chinese buying up Kensington etc
based on Hong Kong it could be interesting; there it’s all about “showing face” ie showing off, not yield etc.
Edit
Chinese clients are a dream, Ms. Minegishi said. “They are wealthy, they pay in cash, and they’re looking for good value.”
Chinese citizens require approval from their local authorities to invest more than the equivalent of $50,000 a year overseas. But many wealthy Chinese elude the restrictions with help from trust funds and foreign bank accounts, real estate brokers say.
The London property market might have shown signs of cooling recently, but investors from mainland China and Hong Kong are busier than ever — bidding, for example, on luxury apartments in the fashionable Knightsbridge district down the road from Harrods department store and on new homes near the Canary Wharf financial district.
nalah:
Chinese Investors Flock to London for Real Estate - The New York Times
doing this on iPhone excuse the lack of quote;
basically rich Chinese buying up Kensington etc
based on Hong Kong it could be interesting; there it’s all about “showing face” ie showing off, not yield etc.
Edit
Chinese clients are a dream, Ms. Minegishi said. “They are wealthy, they pay in cash, and they’re looking for good value.”
Chinese citizens require approval from their local authorities to invest more than the equivalent of $50,000 a year overseas. But many wealthy Chinese elude the restrictions with help from trust funds and foreign bank accounts, real estate brokers say.
The London property market might have shown signs of cooling recently, but investors from mainland China and Hong Kong are busier than ever — bidding, for example, on luxury apartments in the fashionable Knightsbridge district down the road from Harrods department store and on new homes near the Canary Wharf financial district.
Last year it was Russians, before that Saudis. Check out all the fully veiled ladies exiting chauffeur driven cars in SW1, laden with shopping bags. The global rich love that part of town so its no surprise that the Chinese are ‘arriving’.