Overseas realty proves safer bet

BEIJING - More wealthy Chinese are buying overseas properties for better investment returns as skyrocketing property prices in the country makes domestic home purchases more risky.

Santhosh Joseph, the developer of a $4 billion hotel and residential project in Dubai, said on Friday that among the 10 percent of buyers of his project from Asia, half were from China.

"Considering the huge potential purchasing power in China, the first leg of our road show in Asia took in Beijing, Shanghai and Hong Kong," said Joseph, founder and chief executive officer of Pearl Dubai FZ LLC.