Chinese e-commerce giant JD.com will begin making foreign properties available to its almost 300 million strong domestic consumer base, following an unwinding of capital controls from Beijing.
JD will work with online property company Juwai to post listings in the UK, Australia, the US, and Canada. Juwai, which manages over 2 million listings worldwide, has seen a 10% boost in buying inquiries from Chinese customers this month as the government stays true to its stance of ‘opening up’.
“We know there is tremendous pent-up demand for overseas real estate, with stability and diversification more important to most buyers than capital gains and yields,” Juwai chief executive Carrie Law told the Financial Times.
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