Canterbury’s ethnic make-up is set to take on a distinctively Asian-feel – with a growing number of Chinese migrants and investors buying homes in the province.

The growing trend has been highlighted in latest sales data recorded by Bayleys Canterbury – which has sold 24 homes and a large number of sections to Chinese buyers over the past six months.

Five of those home sales were directly generated from the Luxury Property Showcase exhibition held in Shanghai in December last year which was attended by two salespeople from Bayleys Canterbury. The company took 18 properties up for sale to the three-day event which was attended by 5000 visitors.

The expo’ featured presentations from 90 real estate agencies from 30 countries around the world – including the UK, Dubai, Thailand, Australia, Canada and the USA.

Statistics from the International Organisation for Migration show that over the period from 2010–2014 some 85,447 Chinese migrants moved to New Zealand.

Latest Statistics New Zealand figures out last month show visitor arrivals from China were the fastest growing country category throughout 2014. On a national basis, some 7200 Chinese migrants settled in New Zealand in December alone.

 

A research report entitled The Chinese Luxury Consumer White Paper compiled by Fuzhou-based Industrial Bank Co identified that real estate was top of the list for investment opportunities being undertaken by high net-worth Chinese individuals – coming in ahead of stocks, shares, art, private company shareholdings, and fixed income investments.

Other pertinent statistics contained within the report are that 90 percent of China’s high net-worth population intend sending their children abroad for education, 15 percent cite real estate as the primary driver of their wealth creation, and 12 percent have travelled to New Zealand on leisure trips – ahead of the UK at 10 percent.

The report also noted that almost 50 percent of China’s high net-worth individuals intend taking part in wealth-creating courses and seminars.

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