Middle-class ‘Big Mother’ bargain hunters, who previously hit the headlines for investing in the gold market, were in evidence at the Beijing International Property & Investment Expo
A busy Beijing overseas property exhibition has seen huge interest from surprise investors – Chinese ‘big mothers’.
The four-day 2014 Beijing International Property & Investment Expo, which featured more than 600 developments from around the globe, attracted keen interest from ‘big mothers’ or Damas, from the Chinese pinyin phonetic system – meaning female middle-class bargain hunters, according to a report on the wantchinatimes.com website.
The ‘big mother’ term was first coined by the Wall Street Journal last year for women who invested in gold when prices dipped. Now it appears they are also looking at real estate investment options.
More than 300 overseas projects were on display at the Beijing Exhibition Center show from 10-13 April, including properties in the United States, Portugal, Spain, Cyprus and Greece and the European ‘Golden Visa’ property-for-residency programmes were also promoted.
Four Chinese ‘big mothers’ together spent more than US$500,000 to buy one California villa on Friday, according to one exhibitor.
Senior citizens were also strongly represented at the show among the expected 35,000 visitors, as most younger buyers were unable to …read more