An increasing number of China's rich are snapping up properties overseas in the expectation that domestic inflation will continue to rise after the consumer price index reached a 34-month high in May.
文中的snap up properties overseas就是指“海外抢房”。Snap up意为“抢购”,比如The cheapest articles at the sale were quickly snapped up.(大减价货物中最便宜的物品很快被抢购一空。)除此之外,panic buying(恐慌购买)也有“抢购”的意思。