To understand why wealthy Chinese are moving to Toronto its important to know the facts about Chinese buyers of luxury real estate:
- 60% of wealthy Chinese plan to immigrate
- The main reasons for emigrating are education and wealth preservation
- Growth is slowing in China bringing uncertainty about China’s future.
- Wealthy Chinese are looking to diversify overseas and get their money out.
- Canada after the US is the most popular immigration destination
- Canada is one of the top destinations for overseas education by the Chinese.
- As the largest and wealthiest city in Canada, Toronto and its surrounding areas continues to attract the largest number of high net worth Chinese
Like in the west, if a Chinese Buyer is considering purchasing real estate overseas their research starts with going on the internet.
But with the challenges of distance, language and control of information on the internet in China, how do Chinese buyers find out about real estate for sale in Toronto?
Answer: juwai.com pronounced Joo-why
Meaning “home overseas”, Juwai is where Chinese buyers look internationally for luxury houses and condos to purchase. It features extensive information on property listings for sale from around the world.
Each month 90 million Chinese go on the internet to search for real estate and Juwai is the largest and most trusted international property website in China.
The success of Juwai is based on its ability to get around what is known as the Great Firewall of China. The Chinese government has policies in place that control or block certain information on the internet. Just as Facebook, Twitter, Youtube and Google are all blocked in China, many western websites are also blocked simply because they are not hosted in China or if not blocked by the firewall they experience significant slow load times of up to 2 minutes.
With its international operations located in Hong Kong and its Chinese operations running from Shanghai and Guangzhou, Juwai is able to get behind the Great Firewall and in front of Chinese buyers.
Unlike other real estate websites, a unique feature of Juwai is that each property listing is translated into Chinese personally by a professional translator rather than auto or robo-translated by computer tools such as Google translation. Property listings are thereby presented accurately and proficiently in a style and tone necessary to attract legitimate wealthy Chinese buyers.
Selecting a Toronto realtor to sell your luxury house or condo who is affiliated with juwai.com allows your property to be seen by the fastest growing segment of real estate buyers in the world and reach that exclusive Chinese audience in the right language and behind the Great Firewall.
Victoria Boscariol is a Real Estate Agent in Toronto Canada with Chestnut Park Real Estate Limited Brokerage. With over 20 years experience, Victoria‘s listings of homes and luxury condominiums get worldwide exposure and access to global real estate markets through juwai.com and Christie’s International Real Estate. As a Certified International Property Specialist (CIPS) she has worked with Buyers from around the world moving to Toronto from China, Russia, Brazil, India, South Africa, United Arab Emirates, Jordan, Cyprus, Italy, Germany, The United Kingdom, Australia and the United States.