The following article was published on PropertyWire.
The world’s first web portal focussing on Mandarin speaking mainland Chinese real estate investors looking to buy property in the UK, Europe and beyond, has been launched.
China is one of the fastest growing overseas property investment markets, but there are currently no online resources allowing Mandarin speaking Chinese investors to research and view potential property purchases.
Now Luckywu.com has been created specifically to deliver this service, with a high level of functionality and a layout/design created localised for the Chinese online consumer.
All the research shows that more and more Chinese buyers are looking at property in key locations such as London, Paris, New York and Beverley Hills.
At the same time, while UK based developers and other property vendors are keen to sell to Chinese investors, it is a hard market to access with a complex range of language, culture, social and economic differences to overcome.
Luckywu.com said it has created an easy to use English language interface and full integration with domestic property portals such as Rightmove and Findaproperty that allows UK property developers and vendors a cost effective means of showcasing properties directly to China’s millions of high net worth individuals.
Initially the website is focussing on the UK with a minimum of 500 searchable listings covering off plan, new build, recently renovated, and second hand homes in and around the London area.
Rollout plans include 5,000 listings in London and the rest of the UK in the fourth quarter of 2011 and then adding targeted lifestyle destinations around the world in the first quarter of next year and other international property areas such as the United State and Australia in the latter half of 2012.
Luckywu.com charges for advertising in the same way as domestic advertising portals do. It has a special launch rate of just £100 per month to give developers and agents access the Chinese market in order to showcase data and photos of properties, generate leads, close sales, and plan further marketing.
The site also includes information on overseas property news and specific regional/country information of interest to Chinese buyers including education, residence, immigration, travel and economic information.
‘While UK buyers continue to be held back by economic uncertainty and mortgage drought, mainland Chinese investors have money to spend. The country has the fourth largest number of high net worth individuals in the world. And, following recent changes in taxation in China and with the exchange rate on the Chinese Yaun up 50% against Sterling since the end of 2007, they have a real the appetite to spend it in the UK and the West,’ said the site’s international managing director Sherry Madera.
‘Chinese buyers accounted for more than 5% of residential purchases in central London last year and this is predicted to grow by 35% year on year according to recent research. However, until now there has been no easy means for Chinese investors and UK based vendors to come together. We are the first property web portal to target the Chinese market and we are already receiving an exciting level of interest from both buyers and sellers,’ she added.
Luckywu.com draws on its business networks in China which include its parent organisation Betex (which operates the leading Western lottery brand in China), and its sister company, China focussed residential property agency Five Continents Property which has offices in Beijing, Nanjing and Guangzhou.