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North American developers to do more online marketing to reach Chinese buyers
By Juwai, 13 November 2018
Chinese property buyers and investors are an important part of real estate markets around the world. Our 2018 North America Developer Survey, which questioned property developers in the United States of America and Canada, discovered that more than half are planning to increase their marketing budgets to reach more Chinese property buyers online.
Here are some of the key points from the Survey.
At least 57% of respondents to the Survey, which include property developers from the United States of America and Canada, also plan to do more marketing to Chinese buyers during the remainder of 2018 and through to the end of next year.
Focusing solely on property developers from the U.S. the figure was higher – at 73%.
Just 7% claimed they would be doing less marketing to reach Chinese buyers from mainland China and Singapore.
Online marketing is popular for North American developers because of its relative affordability, the Survey revealed. More than 90% of the Survey participants said Chinese property buyers are an important part of their property sales strategy, with consistent claims that Chinese buyers are currently responsible for as many as 1 in 10 sales.
The Survey also noted that Chinese buyers are more comfortable buying at the off-plan stage of property developments compared with local buyers. Last year, Chinese buyers acquired more commercial and residential property in North America than previous years.
The US$119.7 billion worth of investments was 18.1% higher than 2016.
You can download your own copy of the Juwai 2018 North American Property Survey here.