Warren Buffett

Warren Buffett hooks up with property portal Juwai.com to spur Chinese buying of US properties

PUBLISHED : Tuesday, 18 April, 2017, 12:09am
UPDATED : Tuesday, 18 April, 2017, 12:09am

Berkshire Hathaway HomeServices on Monday said it entered into a marketing agreement with Juwai.com, China ‘s largest international property website, to attract wealthy Chinese buyers looking to purchase homes in the United States.

The real estate affiliate of billionaire investor Warren Buffett’s Berkshire Hathaway said the agreement will allow the roughly 2 million monthly users of Juwai.com and Juwai.com/luxe to browse its franchisees’ residential listings.

Gino Blefari, Berkshire Hathaway HomeServices’ chief executive, said in a statement the Chinese are the leading buyers of US property apart from Americans, and the agreement with Juwai.com will make it “much easier” for them to shop.

Berkshire Hathaway HomeServices may also be hoping to benefit from Buffett’s popularity in China.

The 86-year-old “Oracle of Omaha” recently let Coca-Cola put his smiling likeness on cans of Cherry Coke, which he drinks often, in China.

He is also providing real-time translation only in Mandarin for the May 6 webcast of Berkshire’s annual shareholder meeting and the firm is a large investor in Chinese car company BYD.

Berkshire’s HomeServices of America Inc, the second-largest US residential real estate brokerage, is the majority owner of Berkshire Hathaway HomeServices.