The Real Deal - New York Real Estate News

Real estate created the Chinese elite. Here’s what happens next

Posted: 11 Jan 2020 05:00 AM PST

Real estate seems the best way to amass a fortune in China, according to the country’s elite. A UBS Group AG survey of 76 wealthy families found that 30 percent of respondents said they built their fortunes through real estate, twice the percentage of wealthy families elsewhere in the world, according to Bloomberg. Consumer discretionary and industrials were the next most common means of wealth-building in the country. The average net worth of respondents was