An increasing number of Chinese investors are buying real estate in other countries.
Kaiwen Zhang is the face of a burgeoning trend. The Chinese investor has already bought two apartments in Thailand. He lives in one in Bangkok and rents out the other on the resort island of Phuket.
Demand is also likely to grow with many Chinese businesses opening factories in Thailand, creating a market for second homes for executives.
In Moscow, luxury properties are luring more Chinese buyers. At a development project in central Moscow, Chinese investors snapped up about 10 percent of the units.
One attraction is that residential properties in Thailand are relatively cheap compared to Europe.
But Chinese investors are facing some obstacles when buying properties abroad. The Chinese government is tightening regulations on purchasing foreign currency used to invest in real estate, which has slowed overseas buying.
Wan Yunke was planning on buying a house in Thailand, but he’s finding it more difficult now.
Real estate agents abroad are also noticing the impact.
(Source: China Global Television Network)
A single purchase
