PropSpace, a global leader in real estate software solutions, has launched a new product that now makes it easier for real estate agents in the Middle East region to sell property to Chinese buyers in partnership with Juwai.com, the largest Chinese international property website.
The new software enables the agents to upload their listings directly via PropSpace to Juwai.com.''
A leading developer of cloud-based real estate software, PropSpace said the users must be customers of Juwai.com for their listings to be successfully uploaded from PropSpace to Juwai.com.
The Chinese are the largest international real estate buyer group today with the US, Australia and Canada topping their favourite destination list.
They had invested about $52 million last year in international property, an amount that is expected to rise to $220 billion per year by 2020.
The PropSpace - Juwai.com link is a sign of the growing prominence of the Middle East real estate sector, particularly cosmopolitan destinations such as Dubai and Abu Dhabi, and the increasing role in the region of Chinese investors looking to diversify their property portfolios, said a top official.
"We are delighted to join forces with Juwai.com, the largest and most trusted international property website in China. This mutually beneficial partnership brings tremendous value to PropSpace clients, allowing them easier access to the influential Chinese investor segment," remarked Alex Nicholas, the CEO and founding partner of PropSpace.
"The Middle East is an increasingly preferred destination for property investment by Chinese investors, from high net worth individuals down to the $300,000 range. Juwai.com is an ideal partner in that regard, offering unparalleled access to this powerful investor group," he added.
Charles Pittar, CEO of Juwai.com, said: "The UAE is the most popular Middle Eastern country for Chinese real estate buyers, accounting for more than half of total regional demand in 2015. The next most popular Middle Eastern countries are Turkey and Egypt."
"Last year we saw 15 per cent growth in the number of enquiries made by Chinese buyers in the UAE. Dubai is the No. 1 destination for Chinese buyers in the Middle East, followed by Istanbul," stated Pittar.
“The UAE is considered the principal safe and appealing destination in the region. Dubai competes for investors with Europe, Southeast Asia and North America, not so much with other Middle East countries. The offering of prestigious global university brands helps it get the attention of Chinese students and their families,” he added.-TradeArabia News Service