A lot of Chinese nationals are buying property in the states and Canada in order to accomplish the same thing
I wonder how this kind of cash parking affects property values?
But you don't have to guess, just look at property values for anything at all nice in Vancouver. Practically the whole city could not afford to buy a house there on their current income.
Go look at housing prices in every city on the west coast.
Eg. a large vertical block of tiny, tiny rooms which are just good enough to be livable, but with extremely expensive components.. designed to be parked and traded and never lived in.
The recent decline of sterling is great for foreigners interesten in acquiring London property -- London will always be London, brexit or no brexit. But it just got a lot more interesting for foreigners with businesses (or investments) abroad to relocate there.