Hong Kong media reported that in the context of China's economic recovery, the domestic real estate crisis, and the slowdown of family wealth growth, some Chinese investors are competing for overseas real estate.
The South China Morning Post Sunday (September 24) reported that Stephen Yao, a Guangdong real estate agent who bought an apartment for Chinese buyers in Thailand from 2017 to 2018, is currently helping for more than 200A Chinese middle -class family sells their real estate in Thailand.
Stephen Yao revealed that many of them buying houses in Thailand are ordinary middle -class families from second -tier cities in China to engage in tourism, exports and service industries.Since the epidemic, their income has dropped sharply, and the market value of domestic real estate has also declined.
He said that some of them can no longer be able to bear the overseas real estate investment, and urgently need cash to solve domestic financial problems, such as corporate failure, layoffs and mortgage loans."Some people no longer have additional funds to continue to hold these overseas properties."
Dan Danan Yao said that it is not easy to find new buyers.Among the more than 200 apartments he helped, only 6 units have been sold to new buyers in China since March this year.
He explained that the second -hand housing market in Thailand is quite saturated, and local people and foreign investors are unwilling to buy second -hand houses. Therefore, his goal is still to transfer domestic wealth to the Chinese middle class abroad.
It is reported that since mid -2010, apartments in Thailand, Vietnam, Malaysia, and Japan have become popular investment, attracting middle -class purchases for overseas investment and Chinese middle class who are eager to invest in overseas.But these projects are facing losses.
Chinese investor Patricia Li, a Chinese investor who purchased real estate in the forest cities in the Florida City, Malaysia, said that the forest city planned 700,000 people, but it is less than 1%.
Patricia Lee said that the forest city now looks more like a ghost city, not the promised prosperous residential and commercial districts, apartments, roads and stores are empty.
She also said that the price of the apartment now has dropped from 18,000 yuan per square meter (RMB, the same below, S $ 3369) to 6,000 yuan, and many people want to sell their houses.Unless you can find Chinese buyers, local people and buyers from other countries are not interested in forest cities.
In addition, Chinese real estate investors entering the Japanese market also face challenges.A staff member of the consulting agency investigating the Japanese market said that people investing in Japanese real estate operating homestays are undergoing losses because Chinese tourists have not returned.
