【CNBC】Chinese investors choose Singapore over Hong Kong for ‘diversification’ — but things could change

• “Some of this demand (in Singapore) is from mainland Chinese money that might otherwise have been channeled to Hong Kong, or Hong Kong money looking for offshore diversification,” said Juwai.com Executive Chairman Georg Chmiel.
• Foreign buyers in Singapore are required to pay a whopping 20% tax on any residential property purchase. Even so, Chinese investors are still pouring money into what they perceive to be a safe investment.
• “Despite the Chinese home buyers will boost up the private residential market in Singapore in a certain degree, its impact will be marginal to the overall housing market,” said Hannah Jeong, head of valuation and advisory at Colliers.

“Despite the capital outflow restrictions from China, a mutual fund or family trust format will be able to bring out capital continuously from China,” Jeong told CNBC.

READ MORE