Property website Realestate.co.nz is expecting Chinese investors to pour US$10.9 billion (NZ$17.2 billion) into this country’s residential and commercial real estate markets as a result of changes being made to overseas investment rules in China.
The latest Unconditional newsletter published by Realestate.co.nz this week, said the influx of Chinese money was likely to cause a boom in this country’s commercial property sector.
“The second phase of Qualified Domestic Individual Investor programme implemented by the Chinese government will come into effect this month,” the newsletter said.
“This programme removes certain restrictions that were placed on Chinese citizens and businesses from purchasing and investing in property overseas.”
As a result, Chinese investors are expected to pour US$330 billion into overseas property investments throughout the world, and US$10.9 billion (NZ$17.2 billion) of that is expected to be invested in New Zealand.