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Golden Week has begun in China

Golden Week has begun in China and this year the 8-day long holiday coincides with the Mid-Autumn Festival meaning many Chinese national will be travelling for an extended period of time. This could lead to increased interest in Phuket property from Chinese buyers as they travel to the island, reports local media.

Overseas travel numbers are expected to set a record during Golden Week with an estimated 6 million Chinese citizens expected to go abroad during the holiday, according to Ctrip, a travel company in China. Both regional destinations and countries further away will benefit from the influx of tourists.

“The top travel destinations this Golden Week according to Ctrip bookings are Thailand, Japan, the United States, Singapore, Australia, Canada, Vietnam, Italy, Russia, and Malaysia. We expect Southeast Asian countries like Thailand, Malaysia and Vietnam to see a significant increase in Chinese buyer activity during Golden Week. Enquiries and traffic on Juwai.com could be up by one-third over a typical week-long period,” says Carrie Law, CEO of Juwai.com, to the Phuket News.

Golden Week is usually an important time for real estate companies abroad as it gives them a chance to be seen by a large number of Chinese visitors, some of whom will be interested in buying real estate abroad. Many tourists combine their trips to include both tourist activities and property searches.

“It’s common for real estate agencies and developers to run advertisements in China just before Golden Week. That gets potential buyers excited about the homes in the destination countries. When the buyers get there, they already have those projects in mind. Many stores in popular Asian Golden Week destination countries run special promotions to attract Chinese customers during the holiday. This is one reason Thailand, Japan, and Korea are so popular with Chinese tourists during the holiday,” says Law.

Reported on ddproperty.com