Over the next decade, Chinese investors are expected to spend more than US$1 trillion dollars on overseas real estate (Source: Huffington Post). The main overseas destinations have traditionally been the US, Canada, the UK, Australia and New Zealand.
Many real estate buyers have already been successful in China, and are looking for an overseas home for their family. Because of their success, they tend to be cash-rich; Chinese buyers have built a reputation for paying for homes in cash, which frequently means that they do not need, or even understand, escrow services. However, there are signs that this is beginning to change.
Many real estate purchase decisions are also driven by education needs, since the two often go together. A family head may first buy a home for their child, then return to China to continue managing the business while the son or daughter goes to school. For this reason, it makes good sense to promote a place or location, so that this can be used as good contextual information for Chinese when making a decision. Having good Chinese restaurants is also important for many Chinese, since many families like to eat out on weekends.
The mobile app landscape is relatively young, and WeChat only launched in 2011. This means that it is a good time for overseas real-estate providers to establish a presence with Chinese consumers.
If you are interested in doing that, please contact us; we would be happy to help you.
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