‘Red Packet Discounts’ are Driving Second Home Sales this Lunar New Year

Juwai IQI

By this time of year, property agents in popular offshore destinations usually have the welcome mat out to greet an influx of Chinese investors. Lunar New Year is one of the busiest periods, when buyers use their holidays to secure a second home or add new properties to their portfolio.

Pandemic restrictions prohibit overseas travel this year but this doesn’t mean there is no interest.

In fact, Kashif Ansari, co-founder and CEO of Juwai IQI Group in Kuala Lumpur, believes Chinese buyers may actually be incentivised more than ever.

“We are expecting more property buying enquiries than we had been planning for, simply because so many people will be at home and have money in the bank that they would otherwise have spent on pricey holidays,” he said.

“Chinese cross-border buying enquiries could be 20 to 40 per cent higher this Lunar New Year than in 2020.”

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Source: South China Morning Post

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