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Juwai 2019 Chinese Consumers International Travel Survey Report
By Juwai, 30 September 2019
99% of Chinese plan to travel this year, according to findings from our 2019 Chinese International Travel Survey and 76% (Q33) are willing to participate in property tours.
Despite a slowdown in China’s economy, trade tensions, new investment screening regulations and tighter capital controls from the government, Chinese are not slowing down their travel plans. In fact, compared to Juwai.com’s 2018 travel survey, more Chinese plan to travel between this year and next. There is no doubt that tourism has a positive effect on the real estate industry as Chinese outbound travels often spill over to their overseas property investments.
Many Chinese deem acquisition of foreign properties as an effective way to diversify their investment portfolio. Outbound real estate is viewed as offering better value for money in regard to price, environment, education and social welfare when compared to the current backdrop of sky-high prices and stringent property restrictions in China's domestic housing market.
In fact, Chinese investors acquired a total of USD15.7 billion worth of overseas real estate in 2018, according to data from Real Capital Analytics cited by Cushman & Wakefield.
Specialist property websites are also luring aspiring Chinese buyers who are flocking online to research international real estate. Convenience is the lure. Our survey shows that 68% (Q20) who intend to purchase foreign properties find overseas property agents while browsing online.
This implies that Chinese buyers are becoming savvier and are willing to spend time researching overseas properties and destinations to invest in. Our survey reveals that 55% (Q13) of respondents have researched two or more countries and 26% (Q14) claim they spent more than a year studying overseas properties. This goes to show that the Chinese are becoming more discerning, better informed and will do their homework well in advance before deciding on a final investment destination.
Having prepared themselves, where are these Chinese travellers looking to buy international real estate in 2019 and 2020? What's driving them to invest in overseas property, and how much are they willing to invest?
Download our full 2019 Chinese International Travel Survey report to find out now!
Sources: 1. Media Outreach: Investor Survey Finds Weakening Sentiment among Chinese Outbound Real Estate Investors as Global Asset Selloff Mounts