The top real estate portal in China and the leading U.S. online real estate marketplace are joining forces that will bring American commercial real estate auctions to investors from China and Chinese buyers access to real estate listings from Auction.com in America.
Juwai.com has 2.6 million monthly Chinese-speaking users in mainland China and around the world, and will use its team of 15 journalists to develop content that educates Chinese consumers on the real estate auction process.
Initially, the partnership will focus on commercial properties — multi-family units, hotels, retail and office buildings — listed for sale on Auction.com. But given the high level of interest in US residential properties from Chinese buyers, residential homes will likely be added to the mix as well.
"Over $48 billion in foreign capital was invested in US commercial real estate in 2014, and China was second only to Canada in the amount of CRE investment," said Auction.com CEO and Co-Founder Jeffrey Frieden. "Our strategy has always been to leverage the global reach of the Internet to deliver the largest number of prospective buyers for our sellers. So we're excited to partner with Juwai.com, which has the largest audience of Chinese international property buyers, and will help us effectively target Chinese-speaking investors in mainland China, Hong Kong, Singapore and even in the US."
Juwai.com has signed similar international partnerships with LuxuryPortfolio.com, LuxuryHomes.com and The Real Estate Channel, and Chinese partnerships with China’s number one finance website, jrj.com.
“Auction.com will help us give Chinese buyers more of what they are looking for, exclusive commercial listings that are accessible to them online – in China and in their own language,” said Simon Henry, co-CEO of Juwai.com. "Chinese buyers don’t want to be disadvantaged because of their language or physical distance from the US. We help educate cross-border buyers by providing access and information on global real estate buying practices.”