Sotheby’s International Realty has announced a new alliance with Juwai.com that will enable us to reach even more affluent Chinese buyers. Juwai.com is one of the world’s most prominent real estate websites with over two million monthly visitors. With host servers sitting behind the so-called “Great Firewall,” Juwai.com avoids the problems that externally hosted sites experience with blocking and long page load times.
“One of Juwai.com’s key advantages is that it is hosted on both sides of China’s internet firewall, so its listings are visible online both within China and outside of China,” said Wendy Purvey, chief marketing officer for Sotheby’s International Realty Affiliates.
Dreyfus Sotheby’s International Realty has listed properties on Juwai.com in the past, but this new alliance will broaden the scope of our engagement, and more of our listings will reach more of Juwai.com’s audience of high net worth Chinese international property buyers.
Chinese Real Estate Buyers
China is already the second-largest source of visits to sothebysrealty.com, trailing only the United States, and accounts for one out of every 10 visitors. Chinese investors favor real estate as an asset class. A few interesting facts about Chinese buyers:
- Chinese purchasers acquired at least $350 billion of U.S. real estate between 2010 and 2015 (Asia Society, Breaking Ground: Chinese Investment in U.S. Real Estate)
- 69 percent of Chinese purchase on an all-cash basis (National Association of Realtors (USA), 2015 Profile of Home Buying Activity of International Clients)
- Between 2009 and 2015, Chinese buyers went from accounting for 10 percent to 28 percent of all foreign residential real estate acquisitions in the U.S. (National Association of Realtors, International Buyer Report for years 2011 to 2016)
Looking forward, Chinese buyers are expected to continue purchasing international real estate at a significant rate. The best estimate is that they will spend at least US$218 billion on existing U.S. real estate between 2016 and 2020 – with investments in the rest of the world on a similar scale (Asia Society, Breaking Ground: Chinese Investment in U.S. Real Estate).
Details of the Alliance
The Sotheby’s International Realty brand alliance with Juwai.com includes the following components:
- Listing display: Sotheby’s International Realty property listings will appear on Juwai.com and in its real estate search results.
- First responders: Juwai.com’s Chinese-language team, located in mainland China, allows them to respond to consumer inquiries in real time, translate inquiries into English and forward them to the Sotheby’s International Realty sales associate who has the listing.
- Brand page: A Sotheby’s International Realty brand overview page carries information about the brand, a contact form and the network’s listings – all in one place.
- Banner advertising: Sotheby’s International Realty banner ads will run on the Juwai.com homepage, promoting the company’s brand page and listings to Juwai.com’s audience.