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Overseas real estate in demand
By Cao Qian |
September 3, 2011, Saturday
|
Print Edition
Print Edition
ABOUT 60 high-end property developments from both China and abroad are taking part in the ongoing China International Luxury Property and Home Decor Show in Shanghai with overseas developers and estate agents showing keen interest in tapping ever-growing enthusiasm among wealthy Chinese investors.
The three-day event, being held at the Expo Center through tomorrow, has attracted more overseas participants this year as Chinese mainlanders emerge as increasingly important global property investors, according to the YUBO Group, organizer of the show.
"About two-thirds of the projects displayed this year are from overseas while some renowned domestic developments like Star River are also participating," said Frank Gu, YUBO general manager.
In fact, a couple of factors, including rising wealth, stable investment returns on overseas properties, and the Chinese government's efforts to rein in investment in domestic properties, have helped accelerate interest in real estate abroad.
"We finally sold about 20 units to Chinese buyers after introducing one apartment development in London at CILPS last year, and we expect an even warmer response from the market this year," said Louise Yan, a marketing manager at the international properties division of Colliers International, which is marketing three residential projects in London at this year's show, again for the Berkeley Group, one of the United Kingdom's largest real estate companies.
Some newcomers have also expressed optimism over the China market.
Dave Lee, a marketing director at Huttons Real Estate Group from Singapore, which has brought six projects to this year's event for the first time, said he has perceived rising interest from Chinese buyers over the past few years as stable political and economic environment, well-known educational resources, and reliable investment returns for real estate has made the city-state a more popular destination for property investment.
"It is always good to be closer to our potential customers and we think this might be a good platform," Lee said.
The three-day event, being held at the Expo Center through tomorrow, has attracted more overseas participants this year as Chinese mainlanders emerge as increasingly important global property investors, according to the YUBO Group, organizer of the show.
"About two-thirds of the projects displayed this year are from overseas while some renowned domestic developments like Star River are also participating," said Frank Gu, YUBO general manager.
In fact, a couple of factors, including rising wealth, stable investment returns on overseas properties, and the Chinese government's efforts to rein in investment in domestic properties, have helped accelerate interest in real estate abroad.
"We finally sold about 20 units to Chinese buyers after introducing one apartment development in London at CILPS last year, and we expect an even warmer response from the market this year," said Louise Yan, a marketing manager at the international properties division of Colliers International, which is marketing three residential projects in London at this year's show, again for the Berkeley Group, one of the United Kingdom's largest real estate companies.
Some newcomers have also expressed optimism over the China market.
Dave Lee, a marketing director at Huttons Real Estate Group from Singapore, which has brought six projects to this year's event for the first time, said he has perceived rising interest from Chinese buyers over the past few years as stable political and economic environment, well-known educational resources, and reliable investment returns for real estate has made the city-state a more popular destination for property investment.
"It is always good to be closer to our potential customers and we think this might be a good platform," Lee said.
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