The affluent Chinese have found all the way to vineyard ownership. According to a recent property consultancy survey, China’s super rich is now tempted to spend vast wealth in vineyard ownership.
Among the “ultra high net worth individuals in China” about 45 per cent are interested in vineyard ownership, which is the highest figure for any country where a survey was carried that is according to Knight Frank report. The individuals who worth 30 million USD or more are included in the ultra high net worth people.
The survey interviewed the wealth advisers the world over and found that the Chinese were the most important foreign investors in the vineyards in Australia’s Barossa Valley, Bordeaux in France’s, and the Napa Valley, in the United States.International Organisation of Vine and Wine reports that between 2000 and 2013, wine consumption in China increased by 57 percent.
“The significant growth in wine consumption not only indicates the increment of Wine imports in China, but also a spur in vineyard ownership overseas,” says Nicholas Holt, who heads the Asia-Pacific research team for Knight Frank for.
Few years ago, in the western world, Asian buyers referred to Chinese people, however, these days Asian includes a variety of nationalities from Vietnam to Japan, South Korea, and Hong Kong citizens. “The trend of investing on the Western wine estates is relatively new for Chinese and other Asian buyers,” says Bill Thomson of Knight Frank. Thomson heads Knight Frank’s Italian network.
The only difficulty for the Asian vineyard investors is finding the right location. According to Thomson wine is location sensitive, thus, when it comes to wine quality and taste even a small area matters “The ability to research and knowledge on the locality is the only right approach,” says Thomson.