Pursuits
World’s Biggest Real Estate Frenzy Is Coming to a City Near You
- Chinese homebuyers defy capital controls as local prices surge
- New offshore targets include Texas, Thailand and Malaysia
Chinese Homebuyers Look Overseas in Real Estate Binge
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If they were anywhere else in Beijing, the five young women in cowboy hats and matching red, white, and blue costumes would look wildly out of place.
But here at the city’s biggest international property fair -- a frenetic gathering of brokers, developers and other real estate professionals all jockeying for the attention of Chinese buyers -- the quintet of wannabe Texans fits right in. As they promote Houston townhouses (“Yours for as little as $350,000!”), a Portugal contingent touts its Golden Visa program and the Australian delegation lures passersby with stuffed kangaroos.