Visa Programmes to woo Chinese Buyers.

IN FOCUS 专题报告
1) Visa programmes to woo Chinese buyers
With Chinese investors still the hottest and most sought after market globally, countries around the world are clamouring for their attention. The latest tactic is by revamping visa policies and immigrant investment schemes.

New US visa policy
Excitement swept the world when the US announced its new visa policy, giving Chinese visitors access to its multiple-entry tourist and business visas for up to 10 years, and five-year visa extensions for students from China.1

The change is expected to benefit US job creation, exports and economic growth. 7.5 million Chinese visitors are projected to visit the US by 2021, and they’re expected to bring in $81 billion to the US economy.1

The move will also boost investor confidence and propel property investment by Chinese buyers. In fact, we foresee a 15% increase in Chinese investment in the US for 2015.2

The new five-year student visa in particular will significantly impact property investment, Juwai.com Co-CEO Simon Henry tells the LA Times. Some reasons include:

  • 85% of wealthy Chinese desire an overseas education for their children3
  • 19% say education is the driver for greater investments overseas4
  • Buying homes for children studying overseas is their preferred investment

Since the new visa policy came into effect on 12 November, we’ve seen a stunning 35% increase in enquiry on Juwai.com for US properties.6

Visa policies in other countries
Australia is targeting wealthy foreign investors with a
new Premium Investor Visa (PIV),7 which offers an accelerated 1-year path to permanent residency for A$15 million investment8 – an attractive option for rich Chinese.

Simon Henry tells ABC News 24 about Parliament’s findings on how Chinese investment like this impacts Australia.

Greece, which already has an attractive Golden Visa programme, has proposed that rich investor immigrants be allowed to receive full Greek citizenship after seven years – granting full EU advantages.10

Canada will soon roll out a scheme to replace its suspended Federal Immigrant Investor Programme (IIP). Details are to be verified, but the scheme reportedly will accept 50 wealthy migrants each year.11

Although this is a step towards getting their programme back on track, it will not accommodate 45,000 Chinese applications previously on Canada’s wait list – something property agents across the world will sit up and take notice of.

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Why You Shouldn’t “For Sale By Owner”.

Some homeowners may consider trying to sell their home on without the assistance of a real estate professional, known in the industry as a For Sale by Owner (FSBO). We think there are several reasons this might not be a good idea for the vast majority of sellers.

Here are five of our reasons

1. There Are Too Many People to Negotiate With

Here is a list of some of the people with whom you must be prepared to negotiate if you decide to FSBO.

  • The buyer who wants the best deal possible
  • The buyer’s agent who solely represents the best interest of the buyer
  • The buyer’s attorney (in some parts of the country)
  • The home inspection companies which work for the buyer and will almost always find some problems with the house
  • The appraiser if there is a question of value
  • Your bank in the case of a short sale

2. Exposure to Prospective Purchasers

Recent studies have shown that 92% of buyers search online for a home. That is in comparison to only 28% looking at print newspaper ads. Most real estate agents have an extensive internet strategy to promote the sale of your home. Do you?

3.  Actual Results also come from the Internet

Where do buyers find the home they actually purchased?

  • 43% on the internet
  • 9% from a yard sign
  • 1% from newspapers

The days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong internet strategy is crucial.

4. FSBOing has Become More and More Difficult

The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 9% over the last 20+ years. 

5. You Net More Money when Using an Agent

Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real commission. The seller and buyer can’t both save the same commission. Studies have shown that the typical house sold by the homeowner sells for $184,000 while the typical house sold by an agent sells for $230,000.   This doesn’t mean that an agent can get $46,000 more for your home as studies have shown that people are more likely to FSBO in markets with lower price points. However, it does show that selling on your own might not make sense.

Bottom Line

Before you decide to take on the challenges of selling your house on your own, sit with a real estate professional in your marketplace and see what they have to offer.

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Retirement: Baby Boomers Are Loving It – On Less

http://www.fool.com/investing/general/2014/08/03/retirement-baby-boomers-are-loving-it-on-less.aspx

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Press Releases – Leading Real Estate Companies of the World

http://www.leadingre.com/MediaRoom/PressReleases/Chatter/Global_Real_Estate_Network_Adds_34_Firms_Worldwide#a13527

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