Why are we holding a portfolio sale in Hong Kong?
We’ve been keeping an eye on global trends in luxury real estate. Over the past four years, we’ve noticed a significant uptick in interest from Chinese buyers. Here are some of the key takeaways from our research.
• With the Chinese government loosening capital restrictions, the country’s wealthy individuals and companies are moving more money overseas.
• Chinese purchases of residential properties have increased from $11.2 billion in 2010 to $28.6 billion in 2015 (33,000 homes).
• The United States real estate market has become a preferred destination for Chinese capital. Chinese investors have also been particularly active in Australia, the United Kingdom, and Canada, among others.
This influx, coupled with the global adoption of our bidding application last year, made outreach to China a clear next step.
Summer Portfolio Sale 2017
Our upcoming Summer Portfolio Sale is our strongest collection of luxury properties to date, with specific marketing outreach to Chinese investors. The portfolio auction features 19 of the world’s finest properties, all auctioning over 36 hours beginning on June 28th and ending on June 29th.
The 36-hour auction will commence in Hong Kong at a VIP reception. However, buyers do not have to be present in Hong Kong to participate. The auction will also take place on our mobile bidding application, allowing bidders to participate from anywhere in the world. Simply download the app to start browsing our global marketplace of luxury real estate.
Now available in Mandarin, our website and app are seamless for Chinese buyers, who culturally are well-versed in both digital transactions and purchasing other fine items through auction.
Kick-off Events
In order to reach affluent Chinese investors, we held kickoff events throughout China.
Marketing for the upcoming portfolio auction kicked off in Guangzhou and Shanghai last month with a series of cocktail events hosted in cooperation with The Wall Street Journal and Mansion Global.
Attendees learned more about our mobile bidding app and the properties featured in the portfolio. We were pleased but not at all surprised by the strong reception. It’s clear that the timing is right to further introduce our platform to this influential economy — not only the world’s most populous country, but also the largest international buyer of residential properties.
Luxury Property Showcase Beijing
Today begins the next leg of our kickoff events throughout China leading up to the portfolio sale. We will be sponsoring an invitation-only event at Luxury Property Showcase in Beijing from today until June 18th. More than just a luxury real estate expo, LPS Beijing is a unique concept that combines a three-day expo with several additional exclusive events and activities to provide VIPs, exhibitors, and local players with more chances to connect.
LPS Beijing 2017 is the leading invitation-only luxury property show in China. Over 6,000 highly targeted Chinese home buyers, luxury home owners, and VIPs are expected to visit this 15th edition of LPS. More than 140 international exhibitors will be attending from more than 35 countries, covering over 220 elite property destinations. We are excited to continue to expand into this influential market.
VIP Reception in Hong Kong
On June 28th, A VIP reception in Hong Kong will take place, marking the official start of the 36-hour bidding window for the portfolio sale.
To learn more about the sale and explore 19 of the world’s finest properties, visit ConciergePortfolioSale.com.
Download the Concierge Auctions Mobile App for free in both the Apple App Store and Google Play Store. Users in China can download the app from Baidu, 360, or Tencent.