China owns 100 Bordeaux Châteaus
With wine mania re-emerging across the world, China, the main exporter for Bordeaux wines, has been progressively purchasing vineyards in the Bordeaux region. The Asian giant’s ever growing thirst for Property in the renowned French wine-making region.
The representative 100th château was purchased by Chinese millionaire James Zhou in Tabanac, located on the right bank of the Garonne River in the Cadillac Cotes de Bordeaux region. Bought for an undisclosed figure Château Renon, located 30 minutes from the centre of Bordeaux, came with 20 acres of vineyard and over 5 hectares of gardens.
Ongoing Asian interest in the fine wine market has no signs of slowing, this can be dated back to when the Chinese began to acquire Châteaus in 2010 to meet growing domestic demand as well as being a well-known status symbol. Now being primary export market for Bordeaux wines, the Chinese invest an average of 10 million Euros in the Bordeaux provinces. The future suggests that this figure may double if not treble in the coming years.
Mostly attracted to mid-range château, the Asian superpower now acquires 1.3% of the 7400+ châteaus in the Bordeaux region. Though attaining rapidly the region’s main foreign owners remain the Belgians, with the Chinese catching up fast in second place.