Chinese presence in real estate in South Africa and Mauritius
The proliferating Chinese presence in the foreign real estate business is a pertinent subject of debate the world over. Australia, New Zealand, the United Kingdom and several other countries, fear that Chinese interest in property acquisition in their respective countries is leading to inflated house prices. In the midst of these trends set by the Ultra High Net Worth Individuals (UHNWI) from China, African countries are now emerging as prospective destinations for large numbers of empowered Chinese middle class home-buyers. South Africa and Mauritius distinguish themselves as two of the preferred destinations of this segment. As foreign property ownership mushrooms in the two countries, evaluations indicate that the countries fail in adequately regulating these investments to match their existing socio-economic, environmental and political contexts.