Chinese buyers return to the market as borders reopen

Chinese buyers return to the market as borders reopen

china, property investment

China’s borders have recently reopened for the first time since the beginning of the pandemic, allowing the world’s largest source of tourists and potential international homebuyers to travel freely around the globe.

The United States is the second-most popular home-buying destination for Chinese buyers, according to Juwai IQI, one of the largest global real estate platforms with almost 13 million monthly consumer engagements; Australia holds the top spot on the firm’s top five destination nations, followed by Canada in third, Japan in fourth, and Thailand in fifth.

“China is going from virtually sealed off to nearly wide open in just a couple of weeks,” said Kashif Ansari, chief executive of Asian real estate technology group Juwai IQI. “This will be the first opportunity for most Chinese to visit overseas real estate markets in three years.

“Chinese international property investment is already beginning to recover from its pandemic lows.”

Juwai IQI believes Chinese investments in foreign properties will increase rapidly this month alone and predicts outbound travel from China could reach 2019 levels by mid-2024. During the pandemic, Chinese international property investment slumped by 50 to 60 percent.

Read more: The Property Tribune, The Epoch Times, Domain, Bloomberg, Free Malaysia Today, Mansion Global

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