BIG ISSUE China Words | Mina Mu
Little trouble in big China
With some Western exhibitors claiming to have spent hundreds of thousands on exhibitions with little to show for their efforts, we ask, are the agents to blame or are the organisers? Or could the bubble have already burst on the Chinese overseas sales market?
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n recent years, to hear some agents you’d think that the property exhibition halls in China were paved in gold, rather than that inexpensive carpet they normally use. And certainly, the figures suggest that the Chinese are serious buyers, with more than a quarter of the country’s high-net- worth individuals owning foreign real estate. “The Global Chinese Real Estate Congress estimates that Chinese purchases of real estate overseas reached US$50 billion in 2012,” says Andrew Taylor, Co-CEO of property listing company Juwai. com. Nine billion dollars of that was spent in the USA, just in 2012, according to America’s National Association of Realtors. But there has been a whisper recently that expos have been a little – dare we say it? – disappointing. Rumours abound of western exhibitors spending hundreds of thousands of pounds,
www.opp-connect.com
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