Chinese cut realty buys outside mainland

Chinese people's real estate investment overseas hit a new low last year as their selloffs increased, a recent report from property consultancy CBRE showed. However, Chinese buyers increased purchases of homes located near famous educational institutions overseas.

Chinese investors spent $7.5 billion on buying offshore realty in 2018, sharply down from $35.4 billion in 2017. They were net sellers of real estate in the second half of 2018.

Asia-wide, outbound real estate investment was down 36 percent year-on-year to $53.8 billion in 2018, according to the 2018 Outbound Investment Survey.