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Juwai Top 10 Chinese buyers picks for 2019
By Juwai, 24 June 2020
As cross border property buying by wealthy Chinese consumers evolves rapidly, rankings of preferred destination markets have shifted, according to Juwai IQI’s “Top 10 Chinese Buyers Picks” report for 2019.
The report is compiled based on enquiries Juwai.com received and compare rankings with the year before.
Here are some highlights of the report:
The top 10 countries for Chinese buyers for 2019 are (ranking from top down) Thailand, Australia, Japan, the United States, Canada, Malaysia, United Kingdom, United Arab Emirates, Vietnam and the Philippines.
Of the top 10, only Australia, Malaysia and Thailand maintain the same ranking as in 2018 while Japan surged from ninth to second place.
The United States dropped from third to fourth place. Canada and the United Kingdom have also lost a ranking or two. Greece, New Zealand and Germany did not make it to the top 10 altogether.
New top 10 arrivals are the Philippines, Vietnam and the United Arab Emirates.
The new rankings showed the rapid shift in Chinese buyer preference to the Asia-Pacific region due to accessibility and more affordable prices.
Summary of Top 10 countries:
Thailand ranks first due to proximity, market stability, welcoming posture, quality of life, supportive visa policies and relatively low property prices.
Australia ranks second because buyers are attracted by its large Chinese population, quality of life, high-quality education, and proximity. Melbourne continues to be more popular than Sydney.
Chinese buyers are drawn to Japan’s stable and developed environment. Other plus points include the upcoming Olympics (now postponed to 2021 due to the Coronavirus pandemic), moderately good returns, and relatively affordable entry-level pricing.
#4 United States
Although Chinese buyers are the most significant foreign buyers of US residential real estate and account for 25 per cent of all foreign investment in 2018, Chinese demand has been dented by the trade war and accompanying tariffs, hostile rhetoric towards China citizens and new visa red tape.
In 2019, Chinese consumers from the mainland and Hong Kong made 19 per cent more buying enquiries on Canadian property than they did in 2018. Despite a 20 per cent stamp duty on foreign buyers, Vancouver remains the second most popular Canadian city for Chinese buyers.
Chinese buyers are drawn to Malaysia’s relatively low property prices, available financing for up to 80 per cent or 85 per cent of the total home price, reliable leasing and property management services, the right to freehold ownership, and a developed legal system that protects buyers from exploitation.
#7 United Kingdom
London continues to receive the largest share of Chinese buyers and accounts for more than 45 per cent of buyer interest. The capital offers the most appealing lifestyle, education, economic and investment opportunities.
#8 United Arab Emirates
Chinese buyers make nearly triple the number of buyer enquiries in 2019 compared to 2018. Despite the slow real estate market in Dubai, strategic government initiatives have helped improve demand from Chinese and other Asian buyers.
Vietnam has been the biggest beneficiary of displaced investment due to the trade war as manufacturers move their production capacity from China to industrial parks in Vietnam. Ho Chi Minh City attracts Chinese investors because of growing commercial ties and the development of several mega projects.
The Philippines made it into the top-10 for Chinese buyers for the first time. More than 200,000 Chinese have recently moved to the Philippines in recent years, replacing overseas Filipinos as the largest buyers of real estate, especially in Manila.
To get a full report of Juwai Top 10 Chinese buyers picks H2 2019, download here.