17 May More San Diego homes for sale listed in China
Real estate companies like Pacific Sotheby’s International Realty are increasingly wooing buyers in China. It has an exclusive agreement with San Diego-based Caimeiju to advertise homes for sale in San Diego to high-end buyers in China online. It’s not alone: A number of large real estate companies have also signed deals with Chinese-based websites to list homes for sale from La Jolla to Rancho Santa Fe. Already, more than 3,000 San Diego properties were listed on a website in China, with properties ranging from a $139,000 condo in Lakeshore Gardens in Carlsbad up to a $4.6 million home in Rancho Santa Fe.
Caimeiju’s listings cater to luxury buyers in China, with homes costing $1 million-plus, and include high-definition videos in real estate listings. It works with multiple agents in a variety of markets, including Los Angele, and has a server in mainland China.
International activity could increase
San Diego real estate experts welcome the opportunity to service the Chinese buying homes in San Diego. The focus is not just local, but global. Already, listings on these websites are advertised to millions of customers in China each month. Some agents have used Mandarin Chinese-speaking agents to work with interested parties. The expanded, worldwide listings come as more Chinese people buy assets tied to the U.S. dollar, particularly in Southern California, and demand surges. The U.S. has seen an influx of investment from Chinese businesses and investors after Chinese currency was deevaluated and after steep swings in the stock market there.
Today a lot of the demand has centered around properties for sale in San Diego, but rental units and land sales are also advertised. The payoff could be huge for San Diego real estate agents. Chinese buyers spent $28.6 billion on residential properties in the U.S. from April 2014 to March 2015, according to the National Association of Realtors’ latest foreign-buying report. That’s more than any other nationality. Of those sales, more than 35 percent were in California, the association said.