Why the Chinese are buying Bordeaux chateaus

chateau grand moueysThe other day, when Jeeves brought me the New York Times’ “Great Homes and Destinations” section on a silver platter in my wood-paneled drawing room, I poured a spot of claret and settled into my leather wingback chair to catch up on what’s been going on.

Lo and behold the Chinese have been buying properties in Bordeaux! Fully 20 of them in the last four years! That only leaves about 8,500 for them to buy. The story–quite detailed–reveals that Chinese buyers are attracted by property valuations that have fallen over the past decade, usually shop in the €5 million to €8 million range, and like a chateau on the land with a bit of history. One chap just picked up a 10-bedroom castle on 420 acres for €5.95 million! He’ll sell almost all the wine back in China. Also, with their domestic economy slowing, the Chinese have been looking to diversify their holdings and have even been buying wineries in the Hunter Valley and Napa. I wonder what kind of values they have found there.

If Jeeves hasn’t brought you the “Great Homes and Destinations” section, you can also read it with one of those computer things that I’ve heard about.

“Mixing Romanticism and Business in a Bordeaux Chateau”

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4 Responses to “Why the Chinese are buying Bordeaux chateaus”

  1. Can hardly blame the Chinese for buying Chateaux. Values have plummeted due to near halving of the value of the Euro against some currencies in the last 2 years.

  2. Sounds like a good idea to me. Those Bordeaux properties need a lot of money to keep going – glad someone’s willing to provide it.

  3. Yes, valuations have decreased, in part, as there is less interest in the the wines of Bordeaux than there was a generation ago (speaking of the region writ large and certainly if you move beyond the top handful of properties).

    It’s interesting to see, in related news, that Vinexpo has decided to cancel its consumer show in New York this fall as the organizers cited a lack of interest among the properties to exhibit.

  4. Why the Chinese are buying Bordeaux chateaus: a no-brainer.
    The government has a passion for Reds.


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