60% Chinese rich people plan to buy house overseas, US most preferred

Updated: 2016-11-09 16:56


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Over 60% of rich people in China plan to buy properties overseas in the next 3 years, according to the Hurun Research Institute and Visas Consulting Group.

About 1.34 million Chinese people who own at least 1.5 million USD took the survey from August to October, 2016.

The survey found that about 0.8 million people intend to invest in land property in foreign countries and live overseas.

Hupert Hoogewerf, the CEO and top researcher of Hurun Report, said that a major goal of rich people in China is to distribute 1/3 of their wealth overseas, with bank-savings and land-purchase their preferred choices.

The report also shows that the most popular country that rich people want to migrate to is the United States, followed by the UK, Canada, Australia and Singapore.

The major factors influencing the choice of target countries is education, investment environment, immigration policy, taxation, medical condition, visa requirements and how hard it is to adapt to the target country.