Its a funny thing really. You have the rich folks going global to buy properties, usually after owning more than 2 in their home turf. Its clearly unique to see that all these rich folks do not think alike. There are natural exposure considerations. Proximity and close knowledge considerations. Tax and holiday considerations. Retirement and children’s education considerations. Political funds sloshing and illegal money laundering purposes. But the driving point is that they should try to make money and in a currency with potential upside, or their downside is overwhelmed by the capital gains consideration.
They are ranked in terms of total money outflow. I think its surprising to see Singapore so high up, but methinks a substantive portion of that money belong to Malaysians and Indonesians.You know how restrictive the rules for money outflow is for both countries. The same for UK as you can also assume that its also largely Russians living there doing most of the buying.
1) CHINA – HK, New York, London
2) SINGAPORE – London, Malaysia, Tokyo
3) RUSSIA – London, New York, Monaco
4) UK – Cote d’Azur, Italy, New York
5) USA – London, Paris, Bahamas
6) HK – Sydney, London, Tokyo
You will note that China money from China behaves differently from China money in HK. You can also bet that a large portion of HK money going out also belongs to China residents who somehow can reside in HK. The surprising part was the money heading to Tokyo from HK, strange.
7) INDONESIA – London, New York, Monaco
Again, Indonesians are strange people … Monaco???
8) UAE – London, Paris, Geneva
9) ITALY – Geneva, Monaco, London
10) INDIA – London, Dubai, New York