10 Jun 2015

Wealthy Chinese set to go island shopping

4:21 pm on 10 June 2015

A group of very wealthy Chinese people will reportedly be in the Pacific region this month looking to buy their own islands.

The South China Morning Post reports that Guangdong-based entrepreneur Lin Dong said he and five others were flying to Fiji, Tuvalu and Tahiti in their search for the perfect island purchase.

The paper reports that Mr Lin recently tried to buy a lake island in Canada, but failed and has now set his sights on the South Pacific.

Mr Lin is understood to have set up an association for island owners on the mainland, with about 60 members, and he believes more wealthy people from China will want to buy their own islands in the future.

The trip to the South Pacific comes after Wendy Wei Mei Wu, a former property developer in Auckland, purchased a 217-hectare island off the North Island of New Zealand for US$5.3 million.

Mr Lin, who already owns 40 islands, said it was easier to buy islands overseas as he had faced ownership disputes with local governments in China over previous purchases.

Muri beach, Cook Islands

Private islands sought by wealthy Chinese Photo: AFP