To better understand the travel plans of Chinese buyers over Chinese New Year and throughout 2017, as it relates to their overseas property purchasing intentions, we conducted a survey with 120 Chinese respondents from 27 Chinese provinces and 12 overseas countries.
Of the 92% of Chinese respondents who plan to travel overseas in 2017, while tourism (86%) remains their top priority during their travels abroad, property hunting comes in as their second priority at 42%, compared to shopping (18%) and visiting family/friends (17%).
Survey findings also revealed that 57% plan to purchase property in the countries they are travelling to overseas, while 58% are considering to migrate to the country that they are travelling.
We also asked 1,209 international real estate experts and professional from 64 countries to find out more about their expectations about Chinese property buyers during this Lunar New Year Golden Week, and for 2017 in general.
Interestingly, although less than 30% of international agents expect Chinese buyers to approach them during the Chinese New Year holiday period, over 41% of Chinese respondents who intend to purchase property in the countries that they’re travelling to in 2017 have plans to meet with real estate agents over their Chinese New Year travel.
Already, 17% of international respondents say they have been in touch with Chinese real estate buyers who plan to travel during Chinese New Year. As for those yet to be contacted by Chinese property investors, 34% are optimistic and expect to have Chinese buyers approach them within this holiday period.
43% of international agents also personally find the Lunar New Year to be generally a busier time for them when it comes to servicing Chinese real estate buyers, while 56% believe the 2017 Chinese New Year holiday will be a busier period for them compared to same period the year before in 2016.
Beyond Chinese New Year, 54% of international agents expect to see more Chinese buyers during the rest of 2017.