Chinese investors are going on the offensive

After China has stamped out the transmission of the disease and after the first shock of citizens has gone, real estate companies in China and worldwide report a significant increase in requests from Chinese buyers amid a pandemic, writes the Financial Times. During the last six weeks since the end of January, requests have skyrocketed by 300% compared to same period of the previous year.

The interest of Chinese investors can be divided by countries in three groups

1.   The most favorite Chinese destinations. As a rule, these are countries like the USA, Canada and Australia, with a strong economy and attractive education systems. Requests for real estate in the United States grew by 22% in March this year compared with the monthly average in 2019.

2.   More affordable destinations with a low previous interest among Chinese buyers, such as Estonia, Romania and Morocco.

3.   Countries offering residence permits or citizenship for investment, including Greece, Spain and Portugal.

Apart from the main three groups, Chinese investors continue to be interested in luxury real estate in London and investment opportunities in Singapore, hoping to have a stroke of luck, with prices below the level that was just a few weeks ago.

Interestingly, even housing in the ski resorts, which traditionally buyers from China steer clear from, now arouses their interest, especially in Japan and the USA.

Evidently, Chinese consumer activity is returning and buyers come out of hibernation, caused by COVID-19. However, they still cannot come to sign contracts, personally inspect homes and take ownership, but obviously, it is only a matter of time.