The evolution of social media has given cash-rich Chinese buyers the ability to easily buy property around the world that are worth millions – all with just a click or tap of a finger, reports Reuters (25 April 2014). Juwai.com data reveals that within the past 6 months of 2013 alone, potential transactions worth up to $1.1 billion from Chinese property hunters were referred to agents overseas via the internet. According to Joel Goodrich, a luxury real estate agent based in San Francisco, Juwai.com recently connected his partner and him with a Chinese buyer with a budget of $100 million, and most of his communication with said buyer is done via QQ Chat. "Social media is immediate and familiar to the buyers, it's a way to connect people without formality and without introduction. And then you have a little connection," says Goodrich. Other popular social media platforms in China include WeChat and Weibo. Andrew Taylor, Co-CEO of Juwai.com, says Chinese buyers are now primarily seeking for good investments abroad. "They're asking questions about what's the capital gain, what's the yield potential, what's it like living here and what are the taxes," he shares.
