Photo: Rod Waddington/Flickr
There’s a stateside factor that might have a substantial impact on encouraging real estate investors to choose the Great White North instead, suggests online property portal Juwai.com — and no, it’s not President Trump.
“Consumer research shows that most Chinese buyers think of Mr. Trump as just another president… the gun violence in the United States could have a bigger impact,” says Sue Jong, chief of operations for Juwai, a website that helps buyers in Mainland China purchase international property.
“American gun violence is widely reported in China,” Jong explains.
Sue Jong tells BuzzBuzzNews that for Chinese buyers of international property, safety is among the most important considerations, particularly when it comes to parents purchasing for international students.
With this in mind, Jong has some advice for Canadian home sellers.
“If I were a Canadian property marketer, I would consider emphasizing the safety element as part of my sales pitch to Chinese buyers,” she advises.
Juwai estimates Canada was fourth in terms of dollar-for-dollar outbound Mainland China investment in real estate in 2016, but would not provide a number.
According to an estimate in its Chinese Global Property Investment Report, total outbound investment in property of all types worldwide soared to a record $101.4 billion in US funds last year.
Despite gun violence, the US was still tops, having claimed that title since 2013, when Juwai started tracking investment outflows, trailed by Australia and Hong Kong.
“The United States’ positive market trends and openness to foreign investment combine with its status as the primary destination for education, tourism, and immigration to make it a near-perfect market,” reads the Juwai global investment report.
“There will be some Trump refugees, but we won’t expect them to be a major force in the market,” Jong adds.