China is the second largest source of traffic to sothebysrealty.com, just after the United States and it accounts for one out of every ten visitors. Canada is the third largest destination for Chinese buyers, right after US and Australia. Today Sotheby's International Realty announced a strategic partnership with Juwai.com, which is one of the world's most prominent real estate websites with over two million monthly visitors. This makes Sotheby's International Realty the only global luxury real estate company to partner with Juwai.com in order to reach the mainlaind China's market.
Marketwired.com notes that even though the August 2016 data show a slight shift in interest in Canadian real estate, after the 15 per cent property transfer tax on foreign buyers was implemented in Metro Vancouver, September 2016 data show that the foreign buyers are still interested in investing in Canada:
...September 2016 data reflected month-over-month gains across Canada's four largest market, with buying inquiries up 200.0% in Vancouver (following a 5.6% gain in August 2016 over July 2016), 13.0% in Calgary (following a 360.0% gain in August over July), 2.7% in Toronto (following a 104.3% gain in August over July) and 183.3% in Montreal (following a 20.0% month-over-month decline from July to August).
Juwai.com is hosted on both sides of China's firewall, so the listings are visible both in and outside China, which is a great bonus. Brad Henderson, President and CEO of Sotheby's International Realty Canada says this partnership will be a great competitive advantage for Sotheby's International Realty's clients:
As a real estate brokerage with a truly international sales network and marketing platform, we are always looking for opportunities and strategic partnerships that allow us to showcase our properties worldwide. The reality is that global exposure is now paramount for Canadian real estate: it is what attracts the most qualified buyers, and the highest price for our clients' homes. China is an important market for us, and we are proud to now be the only global luxury real estate brokerage to be able to reach Chinese purchasers who we know are interested in living, working, retiring and investing in Canada. Having Juwai.com's team respond to leads in timely fashion overcomes the cultural and time-zone challenges of working with overseas buyers.
Read more about it on marketwired.com.