Half of travelling Chinese consumers plan to hunt for property during Chinese New Year
Staff ReporterDecember 7, 2020
Nearly half of Chinese travellers on holiday over Chinese New Year 2017 will spend some time hunting for property, according to a new survey by Juwai.com.
The survey of 120 Chinese consumers and more than 1209 international real estate agents found 26 percent of Chinese consumers plan to travel internationally during Chinese New Year 2017, and 42 percent say they will engage in property hunting during their trip.
Charles Pittar, chief executive officer of Juwai.com said generally, he finds wealthier buyers are more likely to combine property hunting with tourism during Chinese New Year.
“Overall, a majority of agents expect this year to be a busier holiday season than in 2016," he said.
"Looking beyond just the holiday to all of 2017, almost half - or about 42 percent - of Chinese consumers say they will engage in property hunting during their trips abroad.
"It's not always the case, but often we see a strong correlation between the countries they visit as tourists and the countries where they purchase property. Fifty-seven percent plan to purchase property in the country to which they are travelling. An additional 26 percent say they would consider doing so.
"When it comes to immigration, 58 percent are considering immigrating to the country they are visiting."
Key findings
• 57 percent plan to purchase property in the countries to which they are travelling and another 26 percent say they may consider doing so.
• 58 percent are considering emigrating to the country to which they‘re travelling, and another 16 percent say they may consider doing so.
• More than 41 percent of Chinese who intend to purchase property in the countries to which they‘re travelling plan to meet with real estate agents over their Chinese New Year travel.
• When it comes to real estate agents, 43 percent say they will meet with real estate agents with whom they spoke before their trip, while 32 percent say they will meet with real estate agents with whom they haven’t yet spoken.
How many agents expect this Chinese New Year will be busier than in 2016?
- 67 percent of international agents
- 52 percent of Australian agents (with 36 percent saying “the same” and 13 percent saying “less busy”)