Juwai.com, China's No. 1 international property portal, has launched its advertisers’ section in French, Italian and Spanish, as well as the original English. The improvement allows Juwai.com to work with thousands more propertymarketers who want to tap into increasing desire on the part of Chinese for internationalproperty.
European propertymarketers are anxious to attract these buyers. Real estate sales were down byas much as 40% between 2007 and 2012 in Italy, according to industry body FederazioneItaliana Agenti Immobiliari Professionali. In France, house prices fell by 1.63% in2012 from a year earlier. In recent weeks, European publications including Corriere Della Sera, MonitorImmobiliare, ImmoMatin and Immobilier 2.0 have written about Juwai.com.
Providing online advertising information to the industry is half the equation. Juwai.com has also added Spanish,Italian and French to the languages spoken by its international call centre. This brings the total to 7 international languages and 5 Chinese dialects. The call centre responds to enquiries from both Chinese consumers and international property marketers.
While the global economy has been struggling, the number of Chinese with the wealth and interest to buying overseas property keeps increasing. McKinsey & Company reports that there willbe 20% compound annual growth rate in the number of Chinese high-net-worthindividuals over the next three years.
High-net-worth Chinese are already big international property investors. They hold 51% oftheir overseas assets in real estate, according to Hurun Report. That share is forecast to continue increasing.
Juwai.com's users are primarily high net worth, or wealthy. They are predominantly located within China, although a significant minority come from Chinese overseas communities.
Property marketers who want to reach these buyers can list a single property, or all of their properties. They can take extra steps to build their brand and raisetheir profile in China. This is important so that Chinese property buyers trustthem and are willing to work with them.
Andrew Taylor,Co-CEO of Juwai.com, says: “European agents are suffering through a drought. They are desperately thirsty for help bringing Chinese buyers to their properties.
"We know that Europe is still feeling the pain of the Global Financial Crisis. We want to connect agents there with Chinese buyers. This helps the Chinese achieve their investment goals and can help improve European real estate markets, create work for agents and in local communities, and make a positive contribution to the greater European economy."