Chinese investors refuse to invest in real estate

The Financial Times writes that Chinese investors have revised their priority. They used to vigorously invest in real estate. But the cause for concern in this sector of the country’s economy constrained them to abandon such investments. Now, Chinese investors are turning their attention to luxury items, finding them more profitable for saving. Recently, China has seen a sharp rise in luxury watch sales. The considerable boost in the amount of imports of watches from Switzerland contributes to the satisfaction of investors’ demand. The difficulties of the Chinese developers have led to a record decline in property prices. Analysts expect the decline in property values to maintain. The CSG Intage poll, which was attended by 1.5 thousand Chinese with an annual income of more than 500 thousand yuan, showed that 9 out of 10 respondents plan to increase their spending on expensive watches over the next 12 months. Buyers of Swiss watches deem they are not only an indication of status but also protect the funds from inflation.

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Arseny Kudrin

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