Two big Chinese-based online retailers are working together to feature Canadian real estate properties. Is it a hand of friendship that China has laid in front of Canada?
Juwai is the largest Chinese international property portal and a market leader in China which has declared that by the connection with Chinese e-commerce giant JD.com, it will reach 292.5 million customers online.
Both the companies have suggested that this will help the customers to check out the real estate listings for properties in the US, the UK, Australia, and Canada on JD.com. After selecting the right property for themselves, the customers will get in touch with a Juwai real estate agent who will help them out with more relevant information, and buying & purchasing of the property.
“This partnership with JD.com is incredibly innovative and exciting on one level, but on a deeper level it simply represents Juwai.com continuing to fulfill its core mission of helping Chinese become global residents and investors,” said Juwai CEO Carrie Law in a statement.
Juwai said, although Ontario and British Columbia put foreign buyer taxes on the properties, Canada is still the fourth-most liked country for the Chinese buyers to invest their money in 2017.
“Indeed, there’s no question that the Chinese love for Canada remains robust, and Vancouver is undoubtedly one of the hottest housing markets there with homebuyers from China,” states Juwai, adding that Vancouver retained its ranking as the second most-viewed Canadian city for Chinese buyers on their website last year.
Juwai also said that foreign buyer taxes won’t really affect the high number of Chinese buyers.
“From our point of view, the raised foreign buyer taxes is likely to have minimal impact on wealthy Chinese buyers seeking to purchase in Vancouver or elsewhere in the BC province.”
“Whatever dip in Chinese buyer demand there isn’t due to the raised foreign buyer taxes, but rather because of its real estate prices that are overpriced.”
JD.com, a Chinese largest online retailer was established back in 1998 and stands side by side with Amazon. It has already started showing Canadian real estate listings.
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