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Foreign realtors eye Chinese buyers

(Xinhua)

11:06, July 14, 2012

DALIAN, July 13 (Xinhua) -- Foreign realtors have gathered in Dalian,northeast China's Liaoning Province, to attend a summer housing sales fair, looking to potential Chinese buyers for overseas properties.

The sales fair, which will last from Thursday to Monday in the port city of Dalian, has attracted 19 foreign property projects, nearly triple the number featured last year, the fair's organizing committee said.

The projects offered by foreign realtors are largely distributed in the cities of Sydney, Melbourne, London, Liverpool and Los Angeles, accounting for 26 percent of the fair's total offerings.

Industry insiders believe the global economic slowdown has prompted foreign realtors to go after Chinese investors.

Australia's Simonds Group has promoted commercial properties in Sydney and Melbourne and set up a branch in Dalian in April, said Chang Yihua, a company employee.

Dong Linlin, assistant manager at Chinese and Foreign Realtor Co., Ltd., said apartments for university students are a popular prospect for investment.

Dong's company is working with the British Fortune Real Estate Group to boost sales of student apartments in the UK. She said the number of Chinese students studying in the UK is expected to reach 6 million by 2025, which will create more opportunities for Chinese investors.

A local resident surnamed Zhang who visited the fair expressed interest in buying an apartment for his son, who is currently studying in the UK.

"Since my son doesn't want to come back after graduation, I want to talk to someone about buying an apartment for him there," he said.

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