China Chases The American Property Dream
Recently you may have heard about the woman who sold her house in Shuangjing, Beijing, to subsequently snap up six properties in Houston, Texas. She still lives in her original house, although she now rents it from the new owner, and this little real estate maneuver now makes her over 100,000 RMB per year.
Chinese investors have long been snapping up housing all over the world. CNBC even went so far as to call the outflow of Chinese capital, “one of the largest and most rapid wealth migrations of our time”, mentioning that Chinese billionaires at that time held more than 650 billion USD in offshore assets, doubtless much of it in the form of real estate.
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