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A new Chinese targeted smartphone app for global property searches has been launched after extensive consumer consultation.
With 2.4 million listings over 53 countries, the new app from Juwai allows high-net worth Chinese investors to browse real estate investments while at home or on trips overseas.
According to Andrew Taylor, co-CEO of Juwai, smartphone usage and international investment from China have exploded in the last few years.
“Chinese smartphones usage for commerce, social and web browsing is well ahead of usage in other countries. China’s online users spend more than 40 per cent of their time online on social media – as much as twice the rate of major western countries,” he said.
According to Mr Taylor, the app was developed through extensive feedback and testing.
“Chinese consumers tested the Beta version of this app while travelling overseas before we launched it," he said. "Asking them what they wanted and getting them to test it is all part of how we continue to serve this strong emerging market force.
“High net-worth Chinese buyers of international property tell us they have three primary motivations: investment, emigration and providing homes for their children when they study outside of China.”
The app is also integrated with Chinese social media giant WeChat, with 270 million users.
Cracking the foreign investment market isn’t simple, according to Mr Taylor; there are many factors that must be taken into consideration.
“My best advice for marketing property to Chinese buyers is to use professional human translation of property descriptions, rewrite your property descriptions with the foreign buyer in mind and be sure your listing is hosted within China and its great firewall,” he said.
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