When it comes to real estate marketing nothing amazes you more than the Chinese Billionaires. Chinese buyers have broken world records in the past year in purchases of property. Taking a look at the preference of Chinese for the land, makes you wonder even more!
They have not left any of the most expensive property worldwide, be it US, Japan, Canada, UK, Australia or France. These countries were the most viewed countries by the Chinese buyers in the past year. The US takes lead and within US the concentration of Chinese investors lies in the most expensive markets of Los Angeles, San Francisco, Seattle and New York. According to a study the Chinese have become the biggest investors in the US real estate and making overseas assets. Chinese are different because of the high volume of investment and their wide participation in all sorts of property, and their inclination towards residential property.
They are ready to pay a good amount above the usual home price in United States. On the other hand Chinese are the only overseas investors in the housing markets of the world. Take for instance, the Chinese investment in Canada. There has been enormous flow of money from China to Canadian real estate in last 5 years. It has uplifted the Chinese economy and on the other hand has raged anger among the Canadian middle class citizens for whom the prices of property have become increasingly unaffordable. The question is: what made the people of a country that was quite impoverished a few decades ago, so affluent? Here come some distinct attributes of the Chinese folks which gave them lead over the investors of the world.
Enthusiasm of Chinese
What makes a successful businessman is the courage to take risk and bear loss. Chinese have outreached the world’s business class in being adventurous. They do not hesitate investing even in housing markets. This not only opens up their world of investment but also gives the new markets a go. Over past few years the Chinese investors have left the analysts knocked out by their choice of location that consisted of abandoned towns and rampant cities.
A good key to have money in your pocket is to save money. Obviously you can’t eat the cake and have the cake at the same time. So a common Chinese man believes in the norm of saving. Most of the Chinese citizens save a quarter to one third of their monthly income. This is also partially due to their lack of confidence and insecurity regarding the government policies, despite their government doing maximum expenditure out of the budget on health and education. China is also still working on the ‘one child policy’ so parents also don’t want to burden their children when they get old. That’s another reason they are stingy in their working age and have a lot of saving till the time their kid gets older. That is why the national saving rate of china is more than any other country of the world.
Contribution of Chinese Women
Women make more than half of the world’s population. But the distinctive feature of the women of the most populous country of the world is that, these women are mostly self-made, independent and rich! Much of the credit again goes to the China’s one child policy which has played a major role in upraising of Chinese women. China has equal contribution of its female population in real estate business.
Chinese women are among the wealthiest women in the world, despite the great gender discrimination prevalent in the world’s business community. They make two thirds of the richest people in China itself. The richest self-made woman of the world, Zhou Qunfei also belongs to China. Another important fact about Chinese real estate dealers is that bargaining with them is a bit tricky and confusing. The well known image of Chinese investors is of rich and affluent people. You don’t really expect much of bargaining. Most of the time it is true as they prefer spending a few more millions rather than to negotiate, because they too consider themselves as a part of global elite. But at the same time they are free to spend their money as they like.
Real estate is considered a relatively safe place to invest money for those who have it. And China is the one leading country where people really have the money. Real estate business is the major source of wealth in China and most rich Chinese have made money through it. So they have a sound knowledge of the business of real estate that is better than all others. Also, Chinese investors have mastered the art of creating benefit where it actually may not exist which means that they know how to taper the ends to their own needs.
Lastly, China is a very enthusiastic nation. It has the most hardworking men on the earth. An average Chinese work 12-16 hours a day. But they also like to balance things out. They equally want to give themselves time to relax, which is why they are also interested in beatific places on earth. This also accounts for their interest in overseas land.
It only leaves us enthralled, how China is not ready to miss any overseas investment opportunity and where will its quest for outbound real estate marketing brings it to next. In any case, for us it is really difficult to compete with Chinese buyers in the international real estate market.