Credit image: schoolatoz.nsw.edu.au
According to Juwai.com (top Chinese international real estate portal), Brisbane and the Gold Coast rose among the world’s top ten patronised by the buyers in China.
Juwai co-chief executive Simon Henry attended the G20 Global Cafe event in Brisbane. He said that the USA led the national lists, having Australia as the second.
He mentioned that Australia had four of the top 10 cities in the world, including Sydney, Brisbane, Melbourne and the Gold Coast. As a premium destination, these have consumers devoted to the country’s nearness, Timezone, safety characteristics and international image.
Queenslander and former prime minister Kevin Rudd is credited for having aided in the advancement of interest with the Chinese citizens in Australia since he got an a lot of air time when he was in China due to his language skills.
Cooling measures in some areas in China have prompted families to look offshore to invest their second or third property funds, said the Juwai co-chief executive.
He mentioned that up to $1.2 to $1.3 million marked the searches, with the most used budgets ranging from $2 to $3 million.
He also stated that it is not their first time to buy such properties. Instead, they search for new ones in the million-dollar-plus space.
Education is also a huge factor, having upper middle-income families in China being prepared to pay up to 70% of their finances on their children’s future, which includes purchasing a property to live in while they are studying.
Tom XiaoYi of Yong International Real Estate stated that the Chinese market shows interest in some parts of Brisbane, particularly in Robertson where university graduate, Sky Huo, and family have just purchased a property.
The sought-after suburbs in the Chinese market are Sunnybank, Robertson, MacGregor, Eight Mile Plains, Sunnybank Hills, Cannonvale and Stretton. These are close to many cultural centres, restaurants, shopping and the most important, to university and schools.
Property rates on China’s mainland have ascended, making purchasing a house tremendously expensive in the country in the past few years. This has caused the citizens to prefer living overseas, and as Canada has just closed the opportunity for individuals to get investor visas, Australia rose to popularity.
Mr XiaoYi anticipates residents of Brisbane to obtain rates higher than the pre-global economic crisis selling prices if they had the right formula that would engage Chinese buyers.
He mentioned that enquiries have absolutely increased. Chinese buyers are particular when it comes to location. They are more attracted to properties which are in close proximity to shopping centres, service outlets, universities and other educational institutions.
Buyers in China are searching for:
Property type as a motivation,
New builds, apartments and duplexes for the purpose of education or investment
Trophy homes in prestige areas intended for their lifestyle, and
4-bedroom, 2 garage, 2/3 bathroom homes or multiple properties together meant for migration