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Tuesday, December 20th, 2016

Chinese Retirees Could Fuel the Next Overseas Property Boom

Author:     Justin Bergman
Source:     BBC (U.K.)
Publication Date:     15 December 2016
 Link: Chinese Retirees Could Fuel the Next Overseas Property Boom
Stephan:   The Influx of well to do Chinese is going to be a very interesting trend to watch. In Seattle the influx of Chinese such as those described in this article is already having a major effect on increasing real estate values, as it did in Vancouver BC. But there are other implications. It is going to make the cultures of Australia, Canada, and the U.S. more diverst, more Chinese, just at a time when China is poised to play a much bigger role on the world stage, as the U.S. is diminished by self-sabotage.

Melbourne city at night Credit: BBC

When Mika Sun started looking for a retirement house for his parents, he had a few non-negotiable requirements.

Decent healthcare was a must, as was a safe community and a pristine environment.  It also had to be a good investment, at a price Sun — a 35-year-old network engineer at a telecommunications firm in Shanghai — could afford.

This retirement dream of palm trees and sunny skies wasn’t in China, though. Like many well-travelled Chinese, Sun found what he was looking for overseas — specifically, in Irvine, California, a city 40 miles southeast of Los Angeles in the US. He recently bought a townhouse there for his parents, and in a few years when he’s secured a US visa, he plans to move there for work and his parents will follow.

Well-to-do Chinese are increasingly investing in retirement properties overseas – both for their parents and their own golden years

Sun’s parents, who are both in their 60s, might even find it easy to acclimatise to their new, foreign home. As many of […]

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1 Comment

  1. Steven K Hovland on Tuesday, December 20, 2016 at 6:20 am

    Due to the air pollution in their major cities there may be a major outbreak of terminal heart and lung disease. It may already be happening. If that turns out to be the case many Chinese, no matter how rich, may not live long enough to retire.