Listings website Thehomepage.com.au has reported strong interest in its new Mandarin webpages.
The company said more than 50 new property development advertisements have been upgraded to appear in both English and Chinese only one week after the portal launched the new feature.
Thehomepage.com.au said its Mandarin offering aimed to meet the needs of the estimated 60 per cent of enquiries and purchases in developments that come via Chinese buyers.
“When Chinese want to buy off the plan, there is only one major Australian portal where they can see listings in Chinese, and that’s Thehomepage.com.au,” said Thehomepage.com.au CEO, Ben Stockdale.
The listings are translated into Mandarin by a team of professional linguists.
Chinese buyers accounted for just over $4 billion in real estate purchases in the 2010-11 financial year, from a total foreign investment of $41.5 billion, according to data from the Foreign Investment Review Board (FIRB).
All temporary residents and foreign non-residents must seek the FIRB’s approval when purchasing property in Australia.