The on-going Covid-19 pandemic has led to Chinese investors ramping up cross-border property investments as they have more money in their pockets now than they would otherwise have spent on pricey vacations.
According to Juwai IQI Group co-founder and chief executive officer Kashif Ansari, Chinese cross-border buying enquiries could increase by 20 per cent to 40 per cent this Chinese New Year over the previous year.
Kashif said this year, Beijing is encouraging its citizens to stay home and not travel as they contain a wave of coronavirus infections.
“More than 22 million people have been told to stay indoors, and travel is discouraged across most of the country. Only about half as many people were affected last January during the Wuhan lockdown. Many of the wealthiest cities, including Beijing and Shanghai, have told their citizens not to travel.”