Berkshire Hathaway HomeServices sets sights on Chinese buyers

Warren Buffett’s firm struck a deal to advertise US homes on Juwai.com

TRD New York /
Apr.April 18, 2017 12:50 PM

Juwai.com, Warren Buffett and his Omaha residence (credit: Getty Images)

Berkshire Hathaway HomeServices, the residential brokerage arm of Warren Buffett’s company, will start advertising American homes on a Chinese website in a push to lure wealthy buyers from the country.

This week, the company announced a deal to advertise U.S. homes on Juwai.com, Bloomberg reported. The website, which is accessible from both inside and outside China, has around 2 million visitors per month. The site reaches more than 400 Chinese cities and another 160 other countries, according to the publication.

“The Chinese have overtaken all nationalities besides Americans as the leading buyers of property in the U.S.,” Gino Blefari, the chief executive officer of Berkshire Hathaway HomeServices, said in a statement. He added the site will make it “much easier” for Chinese real estate buyers to look at U.S. properties.

The brokerage has been expanding in the American northeast, and earlier this year launched its first New York City operation.

In December, the Corcoran Group struck a deal with Juwai, known as the Zillow of China, to display listings on the site.

Chinese buyers have been major buyers in the city’s condominium market in recent years. However, the Chinese government is cracking down on foreign investment, in an effort to curb the vast amounts of money Chinese nationals move offshore. Several New York City-based bankers told The Real Deal last month that traditional lending to Chinese buyers is up since the rules went into effect. [Bloomberg]Miriam Hall


Related Articles

arrow_forward_ios
Eric Gordon

Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world

Big Tech locations in NYC

MAP: Here’s a look at all the Big Tech locations in NYC

What will proptech look like in 2019 and beyond?

From left: RealPlus' Eric Gordon, Corcoran's Pam Liebman, Halstead's Diane Ramirez, Douglas Elliman's Howard Lorber and Brown Harris Stevens' Bess Freedman (Credit: Eric Gordon by Emily Assiran, Getty Images, Halstead, BHS, iStock)

Terra sells part of RealPlus stake to Corcoran and Elliman

Alex Rodriguez (Photos by Guerin Blask)

A-Rod is coming for NYC and SoFla real estate

“I can talk about erections all day”: NAR tech consultant’s bizarre fireside chat

There will be 70 agents based at the new office (Credit: iStock)

Compass opens Long Island City office as new-development sales surge

The Daily Digest - Tuesday

New life for Toys “R” Us, Masa Son is “embarrassed” with the Vision Fund: Daily digest

arrow_forward_ios