For Chinese citizens, it is theoretically illegal for them to move money out of the country to buy property. However, judging from the crowds at the Luxury Property Showcase, an international property fair that tours Chinese cities, you would hardly know.
More than 12,000 buyers flocked to the latest event in Shanghai in December, while last year’s fair in Beijing was held at a five-star hotel in the city’s central business district.
The event was filled with agents touting apartments at the Battersea Power Station development in London, student residences in Manchester and investor visas for places including the US, UK and Greece.
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