Millenials are Massively Buying Real Estate Properties in SouthEast Asia
Technology is really taking the business world by storm these days.
Jules Schroeder, a writer about millennials following nontraditional paths and the founder of Unconventional Life, wrote on Forbes in 2017 that the buying power of the millenials create the most explosive revenue growth by 2018 made through online transactions.
True enough!
Bloomberg reported recently that the tech-savvy younger generations are creating vital impact on the real estate sector making themselves valuable players in the industry.
Many young investors from China are surging the sales of real estate properties in Southeast Asia. This is backed by the data compiled by Uoolu.com, the largest cross-border property transaction platform in China helping Chinese buy properties overseas. Their data analysis shows that more than 60% of their buyers are younger than 40.
These “kids”, according to Uoolu.com, transacted $740 million worth of sales in 2018, a record high, which boosted overall sales by an astonishing 60% higher than average sales from the previous years.
Juwai.com, a website for buyers of overseas property, also reported that, in 2018, most of their Chinese buyers were young professionals and flocked into Thailand. These age groups are also targeting Indonesia and the Philippines as these are countries that also allow foreign purchases. Another factor is the low prices of properties which has minimal down payments and mortgages are attainable.
Moreover, data shows the amazing trust of these young investors in the properties they are buying. Bloomberg writes: “Among buyers, about half purchase without visiting the property, while about 22 percent buy sight unseen and all online, without phone calls or a face-to-face meeting with an agent.”
This quicker and convenient way of getting involved in the real estate is time effective and also lucrative, which is why more and more choose this as their investment option. They see the potential and the growth in the future getting stronger and stronger. And like their online role playing, they want to be ahead in the game and part of the action.
But, what is tempting the Chinese millenials to buy properties outside of their country? What’s luring them into investing in properties they have not seen nor contacted the owner to verify the authenticity of the property?
Simple! It’s the proven convenience and the integrity of the online platform’s services.
China, as most people know, is a country that promotes a cashless society. The article written by renowned researcher and Hong Kong-based technology reporter Paul Mozur, for The New York Times describes how renminbi notes are becoming obsolete in urban China.
This gives a clear indication that people who are familiar in doing fast transactions on a reliable platform to buy properties online, can massively create great movements of real estate business anywhere around the world. This will improve one of the major problems that real estate faces — liquidity.
C Estates is poised to provide the right platform to allow not only the young Chinese investors but everyone to enter and complete real estate transactions without the need for the buyer and seller’s physical presence. Anyone who intends to conveniently invest in properties, list their properties for sale or secure and verify property documents before buying can be done on this platform.
C Estates is making real estate easy for everyone.
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