Rich Chinese are buying houses again...

Rich Chinese are buying luxury houses again...at least in several places across Asia.  They have been buying since restrictions have relaxed in places such as Korea, Singapore, Australia,... Media is reporting of Chinese buying houses between US$2mm and 16mm in sales price. 

This uptick has not been reported yet in the US, Canada nor in the UK.  It is believed that the pandemic situation and the travel restrictions in those countries is causing the lower interest at the moment for housing there.  Experts are speculating on when these well-heeled Chinese buyers would come back to Europe and North America.  Most likely, August seems to be the earliest date that these Chinese buyers would start viewing houses again in those countries.  

The reasons for this continued interest of Chinese buyers to acquire overseas real estate remain the same: a weakening currency as well as a strong desire to diversity their investments, plus the strong intention to send the family overseas for education and living.