Enquiries from regional Asia property investors have doubled since the borders opened, especially from the Chinese.
Most of the investors who are buying now are those who just need to get some money out.
Rich and middle-class Chinese have long sought to move some wealth abroad to diversify their investments and keep some assets beyond the reach of authorities.
Early signs point to much smaller flows than in previous episodes, such as one in 2016 that triggered tighter controls on moving money from China. But they indicate that in the wake of the pandemic, Chinese families are looking to relocate assets, and even themselves, overseas.
The restrictions on moving money abroad will likely prevent a flood of outflows or a big impact on the world’s second-biggest economy, but the trend indicates some lack of confidence and weighs on the currency, which has struggled to advance as China relaxed its COVID rules.
Home purchases in Singapore, where Chinese are the top foreign buyers, cooled early in 2023 from last year’s torrid pace – but only slightly despite a steep rise in real estate stamp duties.