Rich Chinese eye luxury properties from Singapore to Sydney, ahead of anticipated weaker yuan

Rich Chinese homebuyers are back. Across China and in some of their familiar hunting grounds in Asia, wealthy buyers are snapping up luxury housing, in many cases to guard their wealth against anticipated inflation and a weakening yuan.The rush to add real estate has led to a jump in upmarket housing prices in China, while offering some support for Asian property markets hit hard by the coronavirus pandemic.“It’s been flat-out,” said Monika Tu, founder of Black Diamondz, an Australian firm that…

from South China Morning Post https://www.scmp.com/news/asia/southeast-asia/article/3086049/rich-chinese-eye-luxury-properties-singapore-sydney-ahead