China - Shanghai
Fueled by three decades of rapid economic growth that has led to the development of a substantial urban elite, China’s eagerness for European luxury brands continues to rise at incredible rates.
This constant increase in luxury spending is not just limited to high-end fashion goods, it also includes investment in overseas luxury properties as easily noticeable in the various luxury property exhibitions organized all over China.
We had the opportunity to be at the CILPS _ China International Luxury Property Show_ in Shanghai where we were surprised by the interest of the Chinese audience in investing in Europe. Many have already acquired a holiday home in Malaysia, Vietnam, Thailand or even the United States, but the ultra high-net worth individuals are now looking to indulge in the fine living offered by the traditional and famous spots of the Mediterranean Coast. This intention has already started in the French Riviera and is likely to expand to other appealing destinations discovered by the affluent Chinese who travel more and well.
TAP has recently obtained a license to operate direct flights between Lisbon and Shanghai and Lisbon and Beijing. The flights are likely to start in 2014, which will probably mark the beginning of new commercial prospects related with Chinese looking to invest in our flagship resorts and stunning luxury properties. Style, elegance and sophistication will be the success key factors to attract the super-rich Chinese who are a well informed clientele, especially interested in all the way of life and glamour the European culture can offer.
There are 875.000 high net worth individuals in China (mainly in Beijing, Guangzhou, Shanghai, Zhejiang and Jiangsu). China has now more HNWI than France and the UK.
There are 600 completed golf courses in China and hundreds, some say thousands, of courses are expected to open in the next several years. The initial membership fee is 50.000 USD and a weekend round costs 160 USD, on average.
