Chinese buyers are welcome in Europe

Real estate companies in London and other major European cities are bracing for a surge in their already hot property markets due to signs that wealthy Chinese are seeking a haven from the nation's stock market turmoil.

Chinese individuals and corporations have been amassing property overseas for several years, particularly in the United Kingdom.

Yet after last month's market crash, in which about 30 percent was knocked off the value of Chinese shares prior to government intervention, real estate industry insiders predict that Chinese investors will be looking to further diversify their portfolios by pumping money into European property.