Tahoe real estate: Sierra Sotheby’s partners with Chinese website
Sierra Sotheby’s International Realty recently announced an alliance with Juwai.com that enables the luxury real estate brand to generate Chinese buyer interest on one of the world’s most prominent real estate websites with over two million monthly visitors.
As a truly international brand, Sotheby’s International Realty now has the most global representation on Juwai.com, displaying luxury listings from 65 countries and territories.
China is already the second-largest source of visits to sothebysrealty.com, only after the United States, and accounts for one out of every 10 visitors.
According to Credit Suisse, Global Wealth Report 2015, because of its rapid economic growth, the number of Chinese dollar millionaires is expected to reach 2.3 million by 2020, a 74 percent increase compared to today.
Largely due to China, Asia was responsible for 70 percent of all new billionaire wealth in 2015.
“Our goal is to be on the forefront of tapping into this market for our Lake Tahoe sellers,” says Brit Crezee, director of marketing, Sierra Sotheby’s International Realty. “It’s an audience that’s too important to ignore and too big to tackle successfully without the global reach and recognition that comes with the Sotheby’s International Realty brand.
“This new alliance with Juwai.com gives us better access to a market that promises great future growth.”
Market studies reveal that Chinese investors favor real estate as an asset class. In fact, Chinese purchasers acquired at least $350 billion of U.S. real estate between 2010 and 2015.
And the National Association of Realtors published a 2015 home-buyer activity report that states 69 percent of Chinese purchase on an all-cash basis.
Looking forward, this international real estate purchasing spree is expected to continue.
According to Asia Society, Breaking Ground: Chinese Investment in U.S. Real Estate, the best estimate is that the Chinese 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.
“The Sotheby’s International Realty alliance with Juwai.com puts our listings in front of this audience of high net worth international property buyers,” says Peter Strand, President, Sierra Sotheby’s International Realty. “One of the key advantages is that Juwai.com is hosted on both sides of China’s internet firewall, so our listings are visible online both within China and outside of China.”
This article was submitted on behalf of Sierra Sotheby’s International Realty, with eight office locations throughout Lake Tahoe and Truckee: Incline Village, South Lake Tahoe, Squaw Valley, Stateline/Village at Heavenly, Tahoe City Gallery, Tahoe Donner, Downtown Truckee and Tahoe City Lakeside. Visit sierrasothebysrealty.com to learn more.