More than 200,000 real estate professionals in 24 countries and especially within Europe can now market their listings to Chinese buyers automatically from a popular industry marketing solution. This results from an exclusive partnership between popular real estate marketing services company Previsite and number 1 Chinese-language international property portal Juwai.com.
Chinese are the world’s fastest-growing property buyer demographic. Chinese buyers spent US$28.7 billion on residential property around the world in 2011. And statistics show their increasing interest in European property:
- In London, Chinese buyers account for 54% of the total value of purchases in the prime central London area. Average prices there are £5 million (US$8 million).i
- In France, Chinese buyers have snapped up more than 30 prestigious Bordeaux vineyards in just two years, a pace never before seen.ii Chinese are the biggest foreign buyers in the central Paris, Ile-de-France area, with 16% of the market.iii
- On Juwai.com, European properties were viewed over 882,000 times by Chinese in January 2013 alone.
How It Works
Under the terms of this new partnership, Previsite’s 200,000 customers will have the opportunity to market their more than 1 million properties listings to Chinese buyers from directly within their easy-to-use Previsite dashboard. Juwai.com is the exclusive Chinese real estate portal for Previsite and its customers.
Rapid Growth in Chinese Buyers
Chinese buyers make up the fastest growing real estate buyer group in countries in Europe, Asia, the Americas, Africa, the Middle East and the Pacific. They spent US$7.2 billion on overseas property in 2009. This is projected to climb to US$114 billion by 2015.
Juwai.com is the top international property portal in Chinese when ranked by unique browsers, property listings and editorial resources. 84% of Juwai.com’s traffic is comprised of High Net Worth Chinese from within China and living in Hong Kong, Taiwan, Macau, Singapore, Malaysia and other countries. Juwai.com customers thus obtain comprehensive exposure to high net worth real estate buyers who speak Chinese, both within China and across South East Asia.
Eric Calosci, CEO of Previsite, said his agency customers and their clients are excited about the increase in Chinese buyers. "Our agent customers have been asking us to make it easy for them to market to Chinese buyers because they are key purchasers in many markets. Chinese buyers are increasingly important in every one of the 24 countries where we serve real estate professionals.
“This partnership with Juwai.com enables us to significantly increase an agent’s chance of selling their property more quickly and at a higher price, right from within the Previsite dashboard they already use every day. They will be able to tap a huge market with no learning curve.
For his part, Juwai.com Co-Founder Simon Henry said, “We are delighted to work with Previsite to make it easy for real estate agents to reach our high net worth Chinese users.
“The pool of high net worth individuals in China will expand at a 20 percent compound annual growth rate over the next three yearsiv. One-third of Chinese millionaires have assets overseas.v They have a voracious appetite for overseas property investments. Moreover, Chinese consumers continue to flock to Juwai.com from all corners of the world, with more than 32% of all website visitors living outside of China.”
i Source: a recent report by Savills research, via Forbes.
ii Source: France24.
iii Source: Les Echos, http://www.lesechos.fr/patrimoine/immobilier/actu/0202421996354- immobilier-les-arrondissement-preferes-des-acquereurs-etrangers-516218.php
iv Report on Private Banking in China 2012, a joint study conducted by China Minsheng Bank and McKinsey & Company.
v 2012 Hurun Wealth Report, via Forbes.