Chinese e-commerce company headquartered in Beijing, JD.com, also known as Jingdong and formerly 360buy, has proven itself to be a highly successful website in the property realm.
The business plans to start selling apartments on its platform. This seems like a good fit for JD because property is also something that someone can sell to someone else, it's just worth a lot more than a pair of socks.
JD.com is going to work with the international property platform, Juwai.com, to feature its properties onto the JD.com website. These properties will include Australian properties and those in other locations as well, such as Canada, the United Kingdom and the US.
According to a quote in the AFR, the Juwai chief executive said that Juwai’s core mission is to help Chinese people become global residents and investors.
Foreign buyers are not a big part of the Australian property market and Chinese buyers are only a portion of the foreign buyer segment.
However, this could have long-term implications for REA Group Limited and Domain Holdings Australia Limited.
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