On Saturday Juwai, a Chinese marketplace for overseas property, held an online property event that attracted over 93,000 views.
The Facebook Live seminar was aimed at Hong-Kong based consumers and gave a platform to developers from Malaysia, Australia, Turkey, The USA and Portugal to address interested buyers and answer questions about visas, legalities and market trends.
Juwai IQI Executive Chairman Georg Chmiel quoted a “triple whammy” of factors which are drawing Hong Kong Chinese buyers.
Firstly there is a very favourable exchange rate currently: “In almost every market where Hong Kong buyers are significantly active, they can buy property much cheaper now than just a couple of weeks ago.”
The demand from Hong Kong for global property is “just as strong as ever”.
Life in Hong Kong and in China is slowly returning to normal.
Chmiel does not plan to go fully online in Juwai’s quest to match Chinese buyers with overseas property however, saying: “Online is certainly a partial replacement for offline events, but we are not giving up on the latter. Even in the age of the Coronavirus, we think the best strategy is a mix of both.”
To that end, Juwai is planning an Overseas Expo in June to “help the real estate industry reach an estimated more than 600 Chinese investors with desires to grow their investment portfolios.”
As property markets across the world suffer, could the influx of Chinese investors be the shot in the arm needed to give some relief?