Three reasons spur HNWIs' purchases abroad

Children's education, desire for a different kind of life postretirement and expectation of handsome returns on investment are the top three reasons why Chinese parents buy residential property overseas, according to a research report.

The report, entitled Overseas Property Needs of Chinese HNWIs 2017, was jointly published by the Global House Buyer and the Hurun Research Institute.

There were about 1.34 million high net-worth individuals, or HNWIs, across China as of May 2016, the report stated.