International real estate search engine Juwai.com recently crunched the numbers that reveal Chinese investment and purchasing activity in property across the world.
The engine engaged and surveyed 120 Chinese consumers about their travel plans for Chinese New Year and 2017 in general.
Their findings included:
- 26% of Chinese consumers plan to travel internationally during Chinese New Year 2017, and almost half (42%) say they will engage in property hunting during their trip.
- 57% plan to purchase property in the countries to which they are travelling and another 26% say they may consider doing so.
- 58% are considering emigrating to the country to which they‘re travelling, and another 16% say they may consider doing so.
- More than 41% of Chinese who intend to purchase property in the countries to which they‘re travelling plan to meet with real estate agents over their Chinese New Year travel.
- When it comes to real estate agents, 43% say they will meet with real estate agents with whom they spoke before their trip, while 32% say they will meet with real estate agents with whom they haven’t yet spoken.
Juwai.com also surveyed 1,209 international real estate professionals, including 184 in Australia. They determined Chinese travellers who plan to visit and perhaps make a purchase during the Chinese new year contacted around 15% of the surveyed Australian agents, and 17% of international agents. About 35% of surveyed Australian agents expected that these calls will be followed through by Chinese buyers keen on securing a new property.
“During Chinese New Year, some agents see no Chinese buyers and others see an abundance of them,” Juwai.com CEO Charles Pittar said.
“It depends on the type of product they’re selling and the location. Generally, we find that the wealthier buyers are more likely to combine property hunting with tourism during Chinese New Year.
“Overall, a majority of agents expect this year to be a busier holiday season than in 2016.
“Looking beyond just the holiday to all of 2017, almost half – or about 42% – of Chinese consumers say they will engage in property hunting during their trips abroad,” he said.
“It’s not always the case, but often we see a strong correlation between the countries they visit as tourists and the countries where they purchase property.
“Fifty-seven percent plan to purchase property in the country to which they are travelling. An additional 26% say they would consider doing so.”