Cambridge Homes Go Global: Calling Mandarin-Speaking Influencers to Boost Sales!

In the city of Cambridge, England, there is a growing trend of people from China and Hong Kong buying homes. Ray Yu, an estate agent and co-owner of Pure Living, has noticed that one area of Cambridge is so popular with buyers from East Asia that it is sometimes called 'mini-China. ' To help sell more homes to buyers in China and Hong Kong, Pure Living is looking for Chinese students who are skilled with technology and social media. The company put up a poster in its shop window, written in Mandarin, asking for help with advertising homes on Chinese social media platforms like WeChat and Xiaohongshu.

Ray Yu was born in Cambridge but lived in Hong Kong for twenty years. He says that many people from Hong Kong moved to the UK after 2019, when there were big protests in Hong Kong. This helped his business because many people wanted to buy homes in the UK. According to Yu, people from China and Hong Kong think the UK is a safe place to keep their money, and they can earn good returns from renting out homes. Cambridge is especially attractive because it has low crime, is close to London, and has good schools. During busy times, Pure Living has sold up to 20 homes a month to buyers living overseas.

Some people in Cambridge are concerned that selling homes to foreign buyers could make it harder for local families to afford homes. Elliot Tong, a Green Party member of the city council, says that homes should be for people to live in, not just for investment. Ray Yu understands that there is a shortage of homes, but he believes that there are still opportunities for both local and overseas buyers. He also says that the rising cost of building homes since the Covid-19 pandemic has had a bigger impact on prices than foreign buyers. Most of the homes sold to overseas buyers are for them to live in, not just as investments. The government is planning to build more homes in Cambridge by 2050 to help meet the demand.