Monday, July 26, 2010

The New New Rich

Helping a Chinese client find a suitable home to buy? Beware the number four. For other tips on dealing with the hordes of Chinese now able and eager to live luxuriously, see the Telegraph's Year of the Dragon.

Data to ponder:
Last year the People’s Republic overtook the United States to become the second biggest market for the luxury sector; and by 2015 it will have overtaken Japan, with a market projected to be worth £11 billion annually.
• • •
The country’s middle class is expected to reach 315 million by 2015, greater than the population of the United States. There are now 875,000 dollar millionaires in the communist paradise, sporting an average age of just 39. They own an average of three cars and 4.4 luxury watches….

No comments: