EDITOR’S LETTER OPP China Words | Mina Mu
Chinese target universities
An ancient legend can tell you a lot about the psyche of Chinese buyers, as you gear up for a busy September
A
mong China’s legendary figures is Mencius, a philosopher second only to Confucius. The mother of Mencius is seen as a heroic fi gure too, because she moved home three times to fi nd the right learning environment for her young son. As legends go, it’s not up there
340,000 Chinese went to foreign universities: 2011
with Robin Hood, I will admit. But the story has lasted more than two thousand years, which tells you a lot about the priorities of Chinese parents when it comes to education and property. With the one-child policy upping the ante, getting your child into a good university is essential – and your duty. According to the Chinese Ministry
of education, 340,000 Chinese went to foreign universities in 2011 and there could be as many as half a million in the 2013/14 year. More to the point (for realtors) parents traditionally buy a property for the student to live in. It can help with work permits and they hope it will be an investment. Another popular story has a wealthy Chinese man buying an apartment in Manhattan for his daughter who’s going to study at NYU. “Really, what’s she studying?” asks the realtor. “No idea, she’s two years old,” is the reply.
Jacky Li of Sky Property (www.
skypropertycn.com) says that the fi rst overseas property consideration of the Chinese is, “Homes with residency permits. Then are the properties in the US near universities and high schools.” Anyone selling overseas property in China must be ready to answer: where are your best universities? How many Chinese students are there already? What are the university’s specialisms?
Where China’s globe-trotting students go to study
32.76% America
13.82% Australia
17.24% Britain
Source:
www.east-west-connect.com 44
America 32.76% Britain 17.24% Australia 13.82% Canada 11.58% Singapore 4.59%
Hong Kong 3.97% France 3.63% Japan 3.63% Germany 2.59% Holland 2.34% Korea 1.45% New Zealand 1.79% Switzerland 0.62%
MINA MU:
OPP China Editor Tel: +44 203 540 2223
American universities are the most popular. In 2011 a third of Chinese studying abroad were in the US, 17% in the UK, 14% in Australia, 12% in Canada. And remember, it was Mencius’s mother, not father, who needed convincing.
AUTUMN MEANS EXHIBITIONS You didn’t have any plans for September, did you? Property exhibition season kicks off with the China International Fair for Investment in Property (CIFIP) in Xiamen, from 7-11 September. Xiamen is a city of 3.7 million on the coast between Hong Kong and Shanghai. Although not one of China’s largest cities, it is popular with immigrant Chinese; and has won plaudits as one of China’s more ‘liveable cities’.
The Shanghai Overseas Property Immigration Investment Fair (OPI) is next up, on the second weekend of September, with the Beijing Overseas Property and Investment Expo (BOPI) on the third weekend of September. The Chinese International Luxury Property Show (CILPS) ends September off erings in the Shanghai East Asia Exhibition.
www.opp-connect.com
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