– Half of China’s millionaires plan to migrate in 5 years

A dream of greener pastures overseas is driving 47% of China’s millionaires to move abroad within the next 5 years, says a recent Barclays Wealth report.1

We’ve often cited four key motivators of Chinese overseas property purchasing ­– education, emigration, investment, and lifestyle – none of which are mutually exclusive usually.

The Barclays report further supports that sentiment, with 78% of respondents citing superior education and improved employment opportunities for their children as main motivations for migration.1 In such cases, a property purchase is usually not far on the horizon. After all, sending a child abroad is often the first step towards greater investment for most of China’s super-affluent.7

Other lifestyle factors include the demand for greater security and a more preferable economic climate (73%), as well as better healthcare and social services offered overseas (18%).1

These findings follow recent data from a Visas ConsultingHurun Report, which pointed to education quality, environmental pollution, and food safety as the top 3 reasons for emigration by Chinese consumers.

It doesn’t help that populations in Chinese cities continue to become increasingly dense. Beijing’s population of over 21 million2 outnumbers the entire population of small countries like Singapore.3

A more interesting question, however, then becomes where these Chinese HWNIs are looking at.

Based on data, the top 10 favourite destinations for Chinese buyers4 include the following countries: US, Canada, Australia, UK, New Zealand, Portugal, Thailand, Spain, Singapore, and Malaysia.

Many of these countries – including the US, Canada, Australia, and New Zealand – are also top emigration destinations5, as well as popular education destinations for Chinese consumers.

While the US remains the #1 choice for university education, Australia and the UK follow closely behind as perennial favourites.

Also among the top five is New Zealand, which is fast becoming a popular choice for Chinese students. China is now New Zealand’s largest source of international students, earning the country a whopping $746 million from tuition fees alone in 2012.8

For the latest on Chinese buyers, sign up to receive updates from Juwai News now.

Sources: 1. SCMP; 2. SCMP; 3. Department of Statistics Singapore; 4. Forbes; 5. Visas Consulting – Hurun Report “Immigration and the Chinese HNWI 2014” Report; 6. WSJ; 7. Higher Education Advisor; 8. New Zealand Ministry of Education Export Education Levy Annual Report 2012-2013

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