March 30th, 2020
I’d like to share with you what the 2019 Palos Verdes Chines Buyers Market Trends picture looks like. Some things have changed. I partner with one of the largest online sources for real estate in China. This is critically important for sellers of Palos Verdes homes in that one, my website is hosted on international servers so that mainland China has access to my content and two, in order to expose your listing to the broader market, this partner’s web presence is second to none as a source of international real estate for affluent Chinese Buyers looking to buy in the United States. I count on them for the latest trends.
For this year of the Earth Pig, we’re going to learn about the following
- facts about China’s GDP growth
- popularity of real estate investments by affluent Chinese
- the possible end of Chinese capital controls (this is HUGE!)
“Here are two key facts about China’s Gross Domestic Product (GDP) that we can expect during 2019. The first is that GDP will grow more slowly than the pace of recent years, and the second is that China is still one of the fastest growing big world economies.”
What’s the status of wealth creating in China and what’s the outlook. This question is critical to the market trends affecting 2019 Palos Verdes Chinese Buyers. So far wealth creation since 2000 has grown from $3.7 trillion dollars to $51.9 trillion dollars. Credit Suisse reports that wealth in China has grown triple the rate in most other countries
Over the last decade, Credit Suisse further reports that there are 3.5 million US dollar millionaires in China.
One of the more important observations I’ve discovered over my years in real estate is the importance of safety and security as a motivating factor for Chinese Buyers. This remains as a 2019 Palos Verdes Chinese Buyers Market Trend. In fact wealthy Chinese Buyers are following their own government’s investment patterns feeling safer in not being pioneers, but rather following the bigger money of their own government’s investments.
Where are Chinese Buyers buying?
Has the Chinese – United States Trade War had any affect on the 2019 Palos Verdes Chinese Buyers Trend? Yes, it has and while patriotically, I see any negative effect of the trade war to United States citizens as a small sacrifice to pay for longer term fair trade negotiations and thus worth going through, it is true that the United States has lost its number 1 status as the most inquired about country for real estate investment among Chinese Buyers
Will 2019 see the end of capital controls?
Surprisingly, capital controls in reality haven’t affected decision processes or action by Chinese Buyers. UBS and Financial Times reports that capital controls are a relatively small factor for Chinese Buyers buying internationally
If you would like to get the full report, click here
Sources for the above information
1. Dato’ Joey Yap, Chinese Astrology for 2019;
2. Nikkei Asian Review, China’s GDP growth slows to 28-year low in 2018;
3. International Monetary Fund, Datamapper;
4. Bloomberg, HSBC sees China’s economy set to pass US as number one by 2030;
5. Credit Suisse, 2018 Credit Suisse Global Wealth Report;
6. Credit Suisse, 2018 Credit Suisse Global Wealth Report;
7. Bloomberg, China’s rich brace for tax raid on 24 trillion wealth pile
8. Wikipedia, Belt and Road Initiative;
9. Time, China Says It’s Building the New Silk Road. Here Are Five Things to Know Ahead of a Key Summit;
10. CNBC, More than a third of Chinese millionaires want to leave China;
11. Asia times, Homes are for living in, not speculating on – China’s leaders;
12. Business Insider, WeChat has hit 1 billion monthly active users;
13. Australian Financial Review, Chinese foreign buyer boom over.
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