Harcourts international real estate group plans to expand its operations in China, adding to the existing 23 offices in the country.
Harcourts’ International operations manager Tina Sander has been working with the Harcourts China team in Hong Kong and Shanghai to build relationships and conduct an analysis of the existing business.
“The plan for Harcourts China for the next six months is to get our business support systems up and running,” Ms Sander said.
“After the systems are implemented, we expect to see large growth for Harcourts China over the next two to three years.”
Ms Sander said China’s unique property market had opened up opportunities for the group in recent months.
Over the past 12 months, the median property price in China has dropped by around 15 per cent, while the average sales volume has increased by 60 to 80 per cent over the same period.
“As Harcourts continues to expand internationally, one of the main focuses will be on growing our footprint in China and increasing our market share here,” Ms Sander said.