Chinese insurers have taken advantage of a relaxation of rules regarding investments, buying prime properties in London and New York, among other markets.
Knight Frank puts the amount spent by Chinese insurers on foreign real estate last year at an estimated $15b, triple the amount spent in 2012. Jones Lang LaSalle expects the figure to exceed $20b this year.
David Green-Morgan, global capital markets research director at Jones Lang LaSalle, said Chinese insurers have the backing of their government and “are eager to nail international deals.” He added “they are more willing to pay top dollar.”
