Powerful Chinese Market Strategy
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The Market Introduction
China represents the world’s fastest growing economy. China's GDP is projected to maintain the growth level of 8% - 10% in the next 10 years. Over the last 15 years, more new millionaires have been created in China than anywhere else in the world. A new report from A.T. Kearney finds that just 2 percent of China's population accounts for about a third of the world's luxury consumption.
In the past few years, driven by government policies, environmental, health, lifestyle change factors, the large and the rapidly growing elite class of Chinese property buyers and investors have geared toward global property investment for wealth diversification, snapping up everything from luxurious trophy homes and vineyards, through to more modest apartments and commercial investment options.
The Chinese Property Buying behaviour
According to "Hurun Wealth Report 2013", the 40-page research report analysing the current number of wealthy individuals in China, and the geographical distribution of investment and consumption, Chinese millionaires can be divided into four types:
1. Business owners
2. Professional investors
3. Real estate speculators and
4. Gold collar
Billionaire can be divided into three types: business owners, real estate speculators and professional investors.
Deterred by loal government cooling measures, 64% HNW chinese buyers are looking to invest in international properties, popular destinations including, USA, Australia, Canada and Europe. In Australia, Melbourne is the most popular, followed by Sydney, the Gold Coast, Brisbane and Perth.
Nearly all wealthy Chinese buyers are self-made. Highly entrepreneurial, wealthy Chinese have not inherited their fortunes. With such drive and achievement, Chinese buyers want a better life for their families and children, and value many opportunities the world has to offer.
Common motivations driving Chinese property investment in Australian properties are
1. Children education
4. Lifestyle ( Enviromental and Health Issue)
5. Welfare System
ABC Report, government ﬁgure shows Chinese buyers spent $4 billion in Australian
Property in year 2012. Wealthy Chinese are now amongst the biggest buyers of Australian properties.
-93 million Chinese search for properties online
-Top Chinese Property Web Portal has 1.65 million unique viewers each Day
-65% of Chinese HNWIs are engaged in overseas migration or investments
-68% of Chinese HNWIs want to educate their children overseas
-Less than 1% of mainland Chinese can speak English
More about Chinese Buyers, please visit our news section