[pjc50]

It's capital flight property. The owners want it available to move in when SHTF in China.

Besides, not having tenants helps increase the upward pressure on property prices. Like trying to corner the silver market.

[ubernostrum]

While I don't discount the possibility of the live-there-someday option, my understanding of it has always been that purchasing overseas real estate opens up some of the few opportunities for a Chinese national to move money out of the country and convert it into a foreign currency.